Integra – San Diego Appraises Real Estate Trust Portfolio Valued at Over $100,000,000

Integra Realty Resources – San Diego has just completed the appraisal of 20 properties for estate tax purposes with a combined real estate value of over $100,000,000.  The properties, located in and around San Diego county consisted of 6 multi-tenant retail properties, 4 industrial properties and 1 industrial business park, 2 multi-tenant office properties, 1 medical office, 3 multi-family properties, and 2 hotel properties, with a combined square footage of over 500,000 SF.

 

Office Property - 6,500+ SF Rentable Area

Office Property – 6,500+ SF Rentable Area

73,000 SF Rentable Area on 4.30 Acres

73,000 SF Rentable Area on 4.30 Acres

 

66,416 SF Rentable Area - Part of 20 Property Trust Portfolio

66,416 SF Rentable Area – Part of 20 Property Trust Portfolio

 

Industrial Flex Property, Vista – Valuation by Integra – San Diego

Integra – San Diego recently completed an appraisal of the leased fee interest of an industrial property containing 76,988 SF of rentable area. The property was 100% leased at the time of the appraisal. Site area is 4.18 acres. This appraisal was completed for loan underwriting purposes for a financial institution

2015 Mid-Year Viewpoint

Hotel-Appraisal-858-259-4900Integra Realty Resources – San Diego, along with its 60+ offices nationwide, has again published mid-year updates to our annual Viewpoint publication – with both a National Overview and over 300 Local Market reports.

The San Diego commercial real estate market, as well as markets across the country, continues exhibiting improving market conditions for all major property types, including office, multifamily, retail, industrial, and lodging.

For a complete look at the data presented in IRR Mid-Year Viewpoint 2015, please click on the links below.

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San Diego Leasing Trends – Midyear Viewpoint Preview

Based on our research, market conditions are expected to improve across all property types in San Diego. The following charts detail current rental and vacancy rates for office, retail and industrial property types in San Diego in comparison with the rest of the region and the United States. Following these current snapshots is a 12-month forecast of the change in market rent, the amount of square feet absorbed, the amount of construction completed, and the estimated allowance for tenant improvements.

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Preview of IRR Mid-Year Viewpoint

trends_san_diego_mid_year_review_2015On July 15, Integra Realty Resources will be publishing their mid-year Viewpoint publication, a comprehensive analysis of over 60 markets across the United States and the Caribbean. Compiled by MAI-designated appraisers, this update highlights local trends, cap rates, rental information, and other important commercial real estate data.

The following excerpts highlight trends for the office, industrial, and retail markets in San Diego.

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The Hottest Industrial Submarkets in San Diego County

Warehouse-Industrial-Appraisal-San-DiegoWith strong fundamentals expected to help the industrial market along, we review San Diego County submarkets to see which areas are most in demand. The following show which submarket has the highest rental rate, the lowest vacancy rate, and the most positive absorption numbers for all industrial property types, including warehouse and flex space.

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Golden Hill Real Estate Appraisal

Golden-Hill-Real-Estate-AppraiserIRR San Diego has completed a commercial appraisal of an industrial property located in the community of Golden Hill in San Diego. The building is approximately 8,200 square feet and is located on a 0.46 acre site. Constructed in the 1960’s, the property is 100% occupied by the property owner. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

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Industrial Business Park Appraisal in Miramar

Industrial-Property-Appraiser-San-DiegoIntegra Realty Resources – San Diego has completed a commercial appraisal of an industrial business park property located in the community of Miramar in San Diego. The property consists of two industrial buildings, one that is approximately 23,500 square feet and the other that is 37,500 square feet for a total of about 62,000 square feet. These multiple-tenant buildings, both built in 1987, each have approximately 60% office space, 22 feet of clear height, and 18 loading doors (36 total for both buildings). The suite sizes range from 1,680 to 20,111 square feet. The site is approximately 0.38 acres. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

As of the effective appraisal date, the property was 67% leased; one building was 100% occupied by 10 tenants, while the other building was 46% occupied by two tenants. In this submarket for this type of property, stabilized vacancy is approximately 10%, which means that as stabilized, the property should be about 90% occupied. Therefore, when performing this type of valuation, it is necessary to consider lease-up costs as the typical investor would lease the property to a market occupancy rate.

If you have any industrial business park valuation questions or needs, please contact us today at 858-259-4900 or sandiego@irr.com.

 

Industrial Property Appraisal in Vista

Vista-Real-Estate-AppraiserIntegra San Diego has completed a commercial appraisal of an industrial property located in Vista in San Diego County. The building is approximately 129,000 square feet and is located on a 9.48 acre site. Constructed in 1999 and renovated in 2013, the property has approximately 27% office space, 24 feet of clear height, and 15 loading doors (nine dock-high doors and six grade level doors). The property will be utilized as a distribution warehouse. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

If have any questions or needs regarding an industrial property appraisal, contact us today at 858-259-4900 or eschneider@irr.com.

Industrial Property Valuation in Southeast San Diego

Industrial-Appraisal-Southeast-San-DiegoIntegra San Diego has completed a commercial appraisal of an industrial property located in Southeast San Diego. The building is approximately 102,000 square feet in size and is located on a 6.15 acre site. Approximately 37% of the building is built out as office space, and the building includes 23 grade-level doors, three truck wells, and about 24 feet of clear height. As of the effective appraisal date, the property is 100% leased to 11 tenants with suite sizes ranging from approximately 1,700 square feet to 22,000 square feet. The purpose of this commercial valuation was for loan underwriting purposes for a life insurance company.

If you are in need of a commercial real estate valuation in Southeast San Diego, please contact us today at 858-259-4900 or via email at sandiego@irr.com. Also, please be sure to download the latest publication of Viewpoint, which highlights industrial market trends in San Diego.

Industrial Property Appraisal in Kearny Mesa, San Diego

Kearny-Mesa-Appraisal-Industrial-San-DiegoIntegra San Diego has completed a commercial appraisal of an industrial property located in the community of Kearny Mesa in San Diego. The property is improved with a single-tenant warehouse/distribution building that contains approximately 76,000 square feet of rentable area. The improvements were constructed in 2001 and are 100% owner-occupied as of the effective appraisal date. The total land area is 12.49 acres, but an additional analysis was conducted to account for 3.33 acres of excess land. The purpose of this commercial real estate valuation was for internal valuation purposes.

If you have any needs or questions regarding industrial property appraisals or valuations in Kearny Mesa, please contact us at 858.259.4900 or sandiego@irr.com.

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