First Industrial Realty Trust has acquired a 424,766-square-foot warehouse and distribution facility in San Diego’s Kearny Mesa submarket for $77 million.
A fund advised by DRA Advisors LLC sold the property at 4000 Ruffin Road, which is situated on 19 acres. Built in two phases in 1979 and 1980, it is one of the largest industrial buildings in the Kearny Mesa area, according to a press statement.
At the time of sale, the property was 100 percent occupied and is home to Sharp Healthcare, Cal-State Auto Parts and Alexander’s Mobility Services.
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