SAN DIEGO—Since H.G. Fenton Company acquired four National City industrial projects in a single transaction in June 2012, Voit Real Estate Services has facilitated 23 new leases bringing the 610,000-square-foot portfolio to the 95 percent leased mark.
“The H.G. Fenton Company reputation for responsible management practices is very appealing to businesses looking for space as well as for the communities in which Fenton projects are located,” said Michael Mossmer senior vice president with Voit Real Estate Services. “Tenants in particular like knowing that their work place is owned and managed by a company with a long-term commitment and this confidence certainly has played a role in the successful leasing activity at these projects.”
H.G. Fenton Company acquired the portfolio from Collins Development Corp. for $49 million as part of its continuing efforts to provide San Diego businesses with quality, well-located and well-managed work places. The projects, which include represent H.G. Fenton’s expansion into the South Bay area and bring its countywide portfolio to 4 million square feet.
The National City portfolio was 89 percent leased at the time of H.G. Fenton Company’s acquisition, and the company’s goal was to stabilize the property with a 95 percent occupancy rate within one year.
“We manage our properties with a focus on meeting our tenants’ needs through responsive service and work environments that support their businesses,” said Kevin Hill, vice president of leasing and commercial acquisitions with H.G. Fenton Company. “With the assistance of the Voit leasing team of Michael Mossmer and Curt Perry, we are delighted to have achieved our goal ahead of schedule. Most importantly, we are very pleased to serve these new and renewing companies with the H.G. Fenton Company tradition of responsible family ownership.”
According to Perry, senior associate with Voit, “This portfolio represents a tremendous opportunity for companies wanting to be near downtown with great freeway proximity and access to a diverse work force in the South Bay. Tenants in the project enjoy a high level of synergy that comes with being part of an established business environment that caters to small and mid-sized businesses.”
The leases negotiated by the Voit team on behalf of H.G. Fenton Company total 52,000 square feet. New tenants include e Concepts Event Designs, PAR Marine Services, CALTROP Corporation and Valkyrie Enterprises.
The National City projects, which are bounded by I-5 on the west, Hoover Avenue and Mile of Cars Way, offer a variety of light industrial, warehouse, office as well as commercial and food uses. For leasing information, contact Michael Mossmer or Curt Perry at Voit Real Estate, 858-453-0505.