North Palisade Partners Underway on 290,618 SF Multi-Tenant Industrial Project in Santee, California
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. San Diego life sciences vacancy remains the lowest in the major life-science clusters, and multifamily fundamentals continue to be supported by a coastal supply ceiling. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
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On the RET wire
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SANTEE, CALIF. — North Palisade Partners is underway on development of Palisade Santee Commerce Center, a new industrial project in Santee, located in San Diego County. The company acquired the 13.4-acre site at 10990…
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