Matthews™ Sets East County Five-Year Benchmark with Industrial Land Sale

SAN DIEGO, CA—Matthews™, a commercial real estate investment services and technology firm, represented the seller in the disposition of an industrial development site located at 10990 N Woodside Ave in Santee, California. First Vice President & Senior Director Chris Nelson facilitated the transaction, marking the largest sale price for an industrial land site in the East County submarket sold within the last five years.

Spanning approximately 13.29 acres, the industrial-zoned site represents one of Southern California’s largest undeveloped infill industrial land parcels. A private family partnership that had operated the property as a drive-in movie theater sold the property to capitalize on its industrial zoning and pursue a strategic capital redeployment. Targeting developers with experience in large-scale industrial projects, Nelson created a competitive bidding environment that generated nearly 30 offers. Nelson identified the buyer, North Palisades Partners, which was attracted to the property’s scale and development potential, with plans to develop approximately 300,000 square feet of logistics space.

As market conditions shifted during escrow, Nelson worked to restructure the transaction from an unentitled land sale to a fully entitled closing, reducing entitlement risk for the buyer. The site plan was also reimagined from a single-tenant cross-dock facility to smaller, divisible tenant footprints, better aligning the development with evolving tenant demand and available capital. This strategy provided the seller with greater certainty of execution while allowing the buyer to pursue a more flexible development plan aligned with current market demand.

Spanning approximately 13.29 acres, the level, industrial-zoned site represents one of Southern California’s largest undeveloped infill industrial land parcels. The property features frontage along SR-67 and is strategically positioned within the East County submarket, providing connectivity throughout the greater San Diego region and access to a supply-constrained infill industrial market.

“Getting a transaction of this scale across the finish line in a changing market required constant problem-solving,” Nelson said. “We remained focused on finding solutions that addressed the priorities of both the seller and buyer as the deal evolved.”

For more information, please contact Chris Nelson or visit www.matthews.com.

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.