A Sorrento Valley industrial building has been sold for $21.3 million.
Rexford Industrial Realty bought the property at 10015 Waples Court from an undisclosed seller.
The 106,412 square-foot building has a 31-foot clear height warehouse, dock and grade level loading and a secured yard.
Evan McDonald and Tom Mercer of Colliers International represented Rexford Industrial and the seller.
“Countywide occupier activity continues to be strong, particularly in large, low-finished buildings like 10015 Waples Court, said McDonald, a senior vice president at Colliers International San Diego Region.
“This increased activity, paired with record rental rates, has fueled local investors and developers to secure larger sites to reposition and construct newer, more functional institutional quality product,” McDonald said.
Real estate reporter Ray Huard may be reached at email@example.com or 858-277-8904.