SAN DIEGO—H.G. Fenton Company continues to build its portfolio of quality industrial properties throughout San Diego with its acquisition of the Silverton Business Center at Trade Street and Silverton Avenue in the Miramar area. The purchase brings H.G. Fenton Company's San Diego County commercial real estate portfolio to more than 4.5 million square feet and reflects the company's mission of creating quality places for people to live and work. Financial terms were not disclosed.

 “As a family-owned company with more than 107 years of service in San Diego, every acquisition we make is identified with the needs of our current and future customers in mind,” said Mike Neal, H.G. Fenton Company's president and CEO.  “We bring a long-term ownership commitment to our properties that is reflected through the H.G. Fenton Company tradition of responsible development and management practices and work environments that support our tenants' businesses.”

Silverton Business Center provides 467,291 square feet of multi-tenant office and industrial space in Miramar, one of San Diego County's most popular and centrally-located industrial submarkets.  With this acquisition H.G. Fenton Company now owns and manages over 1.2 million square feet in the Miramar area alone.

“Miramar continues to see high demand but has reached maturation due to virtually no land for new development,” said Kevin Hill, H.G. Fenton Company's vice president of leasing and commercial acquisitions. “With the addition of Silverton, we have a unique opportunity to create a brand for this project that promotes the growth and development of San Diego business. Our goal is to have Silverton Business Center become the place where San Diego Business starts. We are very pleased to welcome the businesses in Silverton to the H.G. Fenton Company family of properties.”

The purchase of Silverton Business Center by H.G. Fenton Company was facilitated by Paul Brown, vice president with Voit Real Estate Services, San Diego.  The seller's name was not released. 

“This asset is an excellent fit for H.G. Fenton Company's portfolio,” said Brown. “Fenton is an experienced buyer with systems in place that allow them to proceed through the due diligence process quickly.  This, along with their expertise as an owner/manager of millions of square feet of multi-tenant space throughout the county, will ensure a smooth transition for the existing tenants at Silverton Business Center.”