111 Bingham Drive
Value-Add Industrial | Short Term Sale/Leaseback with Excess Land | North San Diego
Marketing description
Prime SR-78 Corridor — North County’s Logistics Core
— Irreplaceable Last-Mile Node for 1M+ North County Residents:
San Marcos occupies the geographic center of a North San Diego County population base exceeding one million residents, with Carlsbad, Oceanside, Vista, and Escondido all within a 15-minute drive. No competing industrial site in the immediate submarket matches this coverage radius for last-mile parcel delivery operations.
— Direct SR-78 Access — Gateway to the Full San Diego MSA:
Bingham Drive sits immediately off SR-78, the primary east-west arterial connecting I-5 (coastal) and I-15 (inland), giving operators direct access to the full San Diego metropolitan area from a single distribution point. This centralized freeway position is the defining locational advantage of North San Diego County’s most active industrial corridor.
Investment highlights
Download OM here: https://bit.ly/111binghamCX
Value Add Industrial | Credit Lease Through March 2029 With Known Vacate
— Rare Industrial Cross Dock Distribution Sale/Leaseback with Excess Land:
- UPS (NYSE: UPS) Investment Grade Tenancy through March 2029 (UPS will vacate upon lease expiration). New ownership will have ample marketing time to secure a new tenant given the known vacate.
- Rare 11.85 Acre Two Parcel Site:
- Parcel 1: 217,800 SF industrial cross dock distribution building on 5.00 Acres.
- Parcel 2: 6.85 Acres (298,386 SF) / 3.66 Acres (159,415 SF) paved and usable paved lot. The additional land on this parcel is not buildable.
— Extremely Strong Market Fundamentals Supporting Upside:
- Tightest Industrial Sector: The San Marcos 78 Corridor industrial market remains very healthy with a current Industrial Distribution vacancy rate of 0.3% and 3-year average of 2.94%. This product type remains the tightest industrial sector within San Diego County given the scarcity of excess land and cross dock distribution buildings.
- The greater North County San Diego 51 million square foot industrial distribution market has a current vacancy rate of 4.3% and 3 year average of 3.82%.
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