(San Diego, CA) – Voit Real Estate Services’ San Diego office is pleased to announce the completion of a 106,584 square-foot lease transaction located in San Diego, California. The fifteen (15) year lease with an estimate value of $16,000,000 represents the largest industrial lease in San Diego this year. Jeff Chasan, Senior Vice President, SIOR in Voit’s San Diego office represented the Tenant, Ballast Point Brewing and Spirits, and Todd Holley, Vice President and Randy LaChance, Senior Vice President, SIOR in Voit’s San Diego office represented the Landlord, HG Fenton in the transaction.
Ballast Point is a brewing and distilling company which commenced their operation in 1992, and has grown to be one of San Diego’s premiere Craft Breweries. Due to the product demand, Ballast Point was looking to expand from their initial production brewery in Scripps Ranch and after 20 months; Chasan was able to find the ideal property in the Miramar area that suited Ballast Point’s requirements. According to Chasan, “Breweries require very specialized facility services and systems, from ceiling height, power, water, gas, floor drainage, outside areas for tanks and storage, easy access for large trucks, and to be centrally located.” After an extensive search throughout the entire San Diego County, and engaging in a number of prior transactions with other Landlord’s, the Miramar location turned out to be the winner.
Chasan stated, “I believe that Ballast Point has found a partner with their new Landlord H.G. Fenton, which will allow them both to have an exciting and prosperous relationship in the future.”
The facility, located at 9045 Carroll Way, will serve as a main brewery as well as the bottling and canning lines. The facility is slated to open for production summer of 2014.
HG Fenton acquired the property in 1997 as part of a 618,000 square foot portfolio. Voit represented HG Fenton in this acquisition and has been handling the leasing for the entire portfolio for the past 16 years.
About Voit Real Estate Services
Voit Real Estate Services is now an 11 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients’ needs. Combining more than 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 53 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.