The Deal

2025 GILLESPIE WAY, EL CAJON CA 92020 | ± 150,000 SF on ±9.6 AC | $24,000,000

Inland Pacific Commercial Real Estate principals Aidan James and James Renner represented the Buyer. The Seller was represented by Ryan Spradling with JLL.

Market Context

The transaction underscores continued investor demand for well-located industrial assets in San Diego’s East County despite broader market uncertainty.

“This sale reflects how strategic capital is pursuing stabilized assets with long-term fundamentals,” said Aidan James, Managing Partner at Inland Pacific. “This asset carries a particularly strong physical profile for East County: large floor plate, conventional distribution functionality, substantial loading, and enough land to support truck and employee parking, making it an attractive product in a supply-constrained market.”

Buyer Strategy

The Buyer understands the East County market and its fundamentals. This is a well-located Class A asset, boasting high occupancy, able to support large and mid-sized tenants, in a low-vacancy area that continues to attract major industrial users.

The Property sits in the Gillespie Field Business Park, an approximately 70-acre, fully developed industrial park with more than 30 lots, where light manufacturing and product distribution predominate. It is minutes from SR-52 and Central San Diego. Nearby, the new Gillespie Field iPark delivered roughly 386,000 SF of Class A industrial space, and in June 2026 an approximately 222,293-SF lease to Amazon was reported there.

East County 3Q2026 market vacancy sits around 3.7%, with 302,432 SF of quarterly leasing activity and an average NNN asking rate of $1.44 PSF. The Gillespie Property was 100% occupied in 2025.

The Property has a total square footage of 150,159 SF on 9.64–9.69 AC, with a substantial 27' clear height, 15 dock-high doors, four grade-level doors and 450 parking spaces. It was built in 1999 and renovated in 2010.

The tenant size and building demising plan can support 25,000 SF – 75,000 SF units, broadening the tenant pool for future leases. Coupled with below market lease rates, this creates immediate value-add for the Buyer through lease renewals at market rents.

About Inland Pacific Commercial Real Estate

Founded in 2001 by James Renner, Inland Pacific Commercial Real Estate is a leading industrial and investment brokerage serving East County San Diego. greater Southern California and select out-of-state markets. The firm has completed more than $1.2 billion in commercial real estate transactions.

Inland Pacific provides advisory services across industrial investment sales, agency leasing, tenant representation, and property management, with a focus on data-driven strategy, market expertise and long-term value creation.