A Newport Beach firm has acquired 26 acres of land in Sorrento Mesa with plans to develop it for industrial tenants.
CapRock Partners bought the property from an undisclosed private investor. The company did not reveal the purchase price.
“This site presents a prime opportunity for tenants seeking custom last-mile logistics, manufacturing and other industrial uses, and CapRock will continue to seek additional acquisition opportunities in this high-demand, land constrained market,” said Bob O’Neill, CapRock senior vice president of acquisitions.
The property is on Nancy Ridge Road near the border of Sorrento Valley and Miramar.
Mike Erwin, Tucker Hohenstein and Evan McDonald of Colliers International brokered the sale.