Hines has closed on 16.4 acres of land for the development of Raceway Industrial, an industrial logistics site near San Diego.
Current development plans for this site include a one-story, 249,000-sq.-ft. warehouse located in Carlsbad. The property is located between two major interstates, the I-5 and I-15, and provides an ideal last-mile location for future tenants to service the northern San Diego market.
Hines aims to deliver the building in early 2022.
North County is a premier industrial submarket for San Diego. Over the past five years, the region has seen significant tenant migration and is home to many notable distribution tenants.