CBRE arranged the $26.5 million sale of 5&52 Business Park, a 71,597-square-foot industrial property in San Diego. Parallel Capital Partners and Long Wharf Capital sold the fully leased asset to Sukut Real Properties. The park, originally built in the 1980s, was renovated after its acquisition in 2025 and leased to two technology companies.
Key takeaways
The sale highlights investor interest in updated industrial properties serving San Diego’s defense and technology sectors.
- 5&52 Business Park sold for $26.5 million.
- The property totals 71,597 square feet at 5965 and 5975 Santa Fe St.
- Sukut Real Properties acquired the asset from Parallel Capital Partners and Long Wharf Capital.
- Seasats and Applied Intuition occupy the fully leased property.
Sale and representation
San Diego-based Parallel Capital Partners and Boston-based Long Wharf Capital were the sellers, while Sukut Real Properties was the buyer. CBRE arranged the transaction, with Hunter Rowe, Matt Carlson, Mike Longo and Matt Pourcho representing the sellers.
CBRE senior vice president Hunter Rowe described the property as a repositioned coastal industrial asset. He also pointed to the role of next-generation defense technology tenants in driving investor attention to San Diego’s evolving defense industry.
Renovation and tenants
The business park was constructed in the 1980s and acquired completely vacant in 2025. Following that acquisition, it underwent a comprehensive renovation before being leased in full to Seasats and Applied Intuition.
Improvements included new roofs and skylights, LED lighting, HVAC upgrades, modernized office buildouts and warehouse work. The project also included exterior enhancements and electrical and plumbing upgrades, bringing the older property up to date for its tenants.