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. The 15-year lease with Ballast Point Brewing & Spirits had an estimate value of $16 million and represents the largest industrial lease in San Diego this year. This transaction is a prime example of Voit Real Estate Services’ focus on delivering superior service to our clients, as well as exceptional internal collaboration to deliver creative, win-win solutions.
The property at 9045 Carroll Way is owned and managed by H.G. Fenton Company and is part of the 600,000-sqaure-foot Miramar industrial portfolio that H.G. Fenton purchased in 1997. Randy LaChance, senior vice president of SIOR, and Todd Holley, vice president, were part of the team at Voit Real Estate Services that represented H.G. Fenton in the portfolio acquisition.
LaChance and Holley have been handling the leasing of the portfolio since its acquisition and have handled more than 100 lease transactions in this portfolio during this time. “This was a unique and exciting transaction marrying together a market leader in one of the nation’s leading core craft brewing centers together with one of San Diego’s best real estate owner/operators with a long-term lease in some of the best industrial space in San Diego,” LaChance said. “This transaction is emblematic of the significant value-add manufacturing currently taking place in San Diego, evolving uses that drive our economy forward.”
Ballast Point, represented by Jeff Chasan, senior vice president at Voit Real Estate Services, 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. Chasan worked with them for more than 20 months trying to identify the right facility. “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.”
“Working in the same office as Jeff, we were well aware of the Ballast Point requirement and their facility needs and we knew of the upcoming vacancy in the H.G. Fenton portfolio,” Holley said. LaChance added, “We put together a package with the property features, an updated site plan and new building façade showing them how the property could meet their needs.”
HG Fenton is a believer and supporter of San Diego’s local businesses. The opportunity to have one of the fastest growing companies in San Diego locate within their portfolio was a perfect match.
“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,” Chasan said.
The facility will serve as a main brewery, as well as the bottling and canning lines. It is slated to open for production summer of 2014.