Cubic Corp., a defense and transportation contractor, is offering its headquarters campus in San Diego for a sale-leaseback deal that offers to redevelop for industrial use a portion of the 26-acre property.
The company's campus includes five buildings encompassing 514K SF. The buildings currently are used as offices, labs, R&D and manufacturing space.
CBRE is listing the property, expecting bids to approach $200M, a $389/SF valuation that would give a buyer an initial annual yield of 6%, based on a projected $12M of net operating income, according to a report in greenstreet.
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