RARE, SOUTH SAN DIEGO INDUSTRIAL OWNER/USER OPPORTUNITY WITH OUTDOOR STORAGE COMPONENT * IRREPLACEABLE LOCATION | 24,140 SF industrial building that is on a 2.04 acre parcel, situated between the I-5 and the San Diego bayfront in National City, CA. * RARE ZONING | The property is designated as Medium Industrial (IM) zoning, suitable for manufacturing, equipment rental and sales, recycling facilities, and wholesale activities. * INDUSTRIAL OUTDOOR STORAGE | This parcel totals 2.04 acres with a site coverage ratio of 0.27, this property boasts significant extra yard space suitable for outdoor storage. Such features are highly desirable among tenants in the San Diego area, as city zoning laws often limit similar storage options. * RAIL SERVICE | The property is rail served by BNSF making it one of the rarest properties in all of San Diego County. There are minimal sites that provide both excess yard and rail service. * BUILDING IMPROVEMENTS | The current owners are spending in excess of $1,000,000 to improve the building. EXCELLENT MARKET FUNDAMENTALS THAT SUPPORT UPSIDE * National City has some of the lowest industrial vacancy rates in all Southern California with a current overall industrial vacancy rate of 3.8% over its 3.5M SF industrial base. This market has substantially outperformed the rest of San Diego County which currents sits at a 6.2% vacancy rate. * 42% of San Diego’s entire population can be reached within a 10-minute drivetime of the subject property. Multi-tenant industrial demand will remain extremely high as this area remains densely populated given its demographics. * Adjacent to the Chula Vista Bayfront Development, the largest waterfront development on the West Coast. This 535-acre project will be developed around an existing marina and anchored by a new resort conference center. Already broken ground in 2019, the development is expected to generate approximately $2.8 billion for the regional economy, including more than $11.5 million in annual tax revenues. It also will create more than 20,000 permanent jobs, nearly 10,000 construction jobs and numerous indirect jobs. * Adjacent to the naval yards and marine terminals which feed the surrounding industrial submarkets. San Diego continues to see increased naval/defense spending with 56 current naval ships and is the largest U.S Navy base on the West Coast. National City will continue to benefit from the surrounding naval presence increased defense spending.