H.G. FENTON COMPANY ACQUIRES SOUTH BAY INDUSTRIAL PORTFOLIO – Acquisition Brings Company’s Commercial Real Estate Portfolio to 4 Million Square Feet
SAN DIEGO, October 3, 2012– H.G. Fenton Company announces that it has grown its commercial real estate portfolio to more than 4 million square feet and has expanded its geographic reach include the South Bay area of San Diego with its recent acquisition of four National City industrial projects totaling 610,000 square feet.
The properties, acquired from Collins Development Corp. for an undisclosed amount, will be owned and managed by H.G. Fenton Company as part of its continuing efforts to provide San Diego businesses with quality, well-located work places. The company already serves hundreds of local companies with strategically located office and industrial space in Mission Valley/Mission Gorge and northward, including Kearny Mesa, Miramar/Sorrento Mesa, Scripps Ranch/Carmel Mountain Ranch, Carlsbad and Vista.
“It is very exciting for us to grow our family of properties into areas that are new for us and where we can serve those communities by providing responsibly managed and productive business environments,” said Mike Neal, H.G. Fenton Company’s president and CEO. “We look forward to serving the tenants of these properties with the high level of service that H.G. Fenton Company continually strives for.”
The new H.G. Fenton Company acquisition includes Southland Industrial Park on W. 35th Street totaling 218,733 square feet; Southport Industrial Park, a 297,533-square-foot, 12-building light warehouse and industrial project located adjacent to Interstate 5 at Mile of Cars Way; Southport Commercial Park, a seven-building, 59,995-square-foot business park that includes industrial, office, commercial and food uses; and Southport Office Park, a 33,984-square-foot, eight-building office project located on Hoover Avenue and Mile of Cars Way.
“These are exceptionally located properties situated just minutes south of downtown San Diego with superb freeway access,” said Kevin Hill, vice president of commercial asset management and leasing with H.G. Fenton Company. “These projects are substantially leased to a diverse roster of quality tenants, and offer a variety of available space options for small- to medium-sized business as well.”
All of the newly acquired H.G. Fenton Company properties were built in the early to mid-1970s, however several of the buildings have been renovated in recent years.
This is the third major real estate acquisition by H.G. Fenton Company in the past 12 months. The company acquired Metroplex Business Center in Miramar, and in a separate transaction also acquired Sabre Springs Business Center in Carmel Mountain Ranch. Financial terms were not disclosed.
For leasing information on the newly acquired National City portfolio, contact Michael Mossmer or Curt Perry at Voit Real Estate, 858-453-0505.
About H.G. Fenton Company
H.G. Fenton Company has proudly entered its second century of service providing quality places for people to live and work. The company is committed to responsible development and management practices, and meeting the needs of its commercial tenants and apartment residents over time. H.G. Fenton Company owns and manages over 4 million square feet of office and industrial space, 13 apartment communities totaling over 3,100 homes (including the new Solterra community in Scripps Ranch which will complete construction in the first half of 2013), and also manages a development pipeline of land and commercial projects. For more information, visit www.hgfentoncompany.com.