Nuveen Sells San Diego Warehouse to NorthPoint
The 153,035-square-foot facility at 8830 Siempre Viva Road sold for $22.6 million.
Updated on Oct. 15, 2026 in Commercial
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Nuveen has finalized the sale of a large San Diego International Center warehouse to NorthPoint Development for $22.6 million. The vacant property is currently undergoing renovations.
Why it matters
The deal reflects ongoing movement in the local industrial real estate market near the U.S.-Mexico border. It follows recent trends in San Diego industrial sales volume, which faced a year-over-year decline in the third quarter.
The warehouse spans 153,035 square feet on nearly 8 acres of land with 36 dock doors. It features 24 to 26 feet of clear height and a 9 percent office build-out.
The players
Nuveen
Nuveen is a global investment manager and a subsidiary of TIAA that oversees a wide range of real estate assets.
NorthPoint Development
NorthPoint Development is a real estate firm specializing in the development and management of industrial and logistics facilities.
Cushman & Wakefield
Cushman & Wakefield is a leading global commercial real estate services firm that provides property management and leasing expertise.
Marketing.com
Marketing.com is a brand and marketing services firm that previously operated a manufacturing arm at the San Diego site.
The details
Completed in 1999, the property located at 8830 Siempre Viva Road previously served as a manufacturing site for Marketing.com, which held a lease in 2024. Cushman & Wakefield is currently providing leasing services for the facility while it remains vacant and under renovation.
Timeline
The warehouse construction was completed in 1999.
Marketing.com's manufacturing arm leased the building in 2024.
The tenant issued a WARN notice for employees in 2025.
PCCP acquired the Airway Business Center in July 2026.
San Diego industrial sales volume totaled $241 million in Q3 2026.
Market Landscape
The sale follows the 9 percent year-over-year decline in Q3 2026 San Diego industrial sales volume, highlighting a period of adjustment for local commercial real estate. This transaction aligns with NorthPoint Development's strategy to acquire and reposition logistics assets near key border trade corridors.
Local businesses and logistics providers may see changes in available warehouse space as the site undergoes renovations. The ongoing upgrades suggest a pivot toward attracting new commercial tenants to the Otay Mesa submarket.
The takeaway
Commercial property investors are navigating a market characterized by a 4 percent year-over-year decline in average prices per square foot. Success in this sector increasingly depends on the ability to reposition older, vacant industrial facilities to meet modern supply chain requirements.
Further reading
For broader trends in local logistics space, read more in San Diego Commercial.
Source note: This article includes information reported by Commercial Property Executive.
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