Schnitzer Properties purchased its first apartment project in San Diego in 1964. Next, it acquired a motel, the Richman Inn. It held these properties for more than 30 years.
In 2001, the company acquired its first multi-tenant industrial property, the 200,000-square-foot Cabrillo Commerce Center. Schnitzer Properties has since acquired 11 other multi-tenant industrial and office projects totaling over 1.7 million square feet. All of the company’s properties are located in prime areas with easy access to freeways and main thoroughfares. They all have park-like settings, serving a variety of corporate and smaller tenants beautifully. Two of these properties, Carroll Canyon Commerce Center and Trade Place Commerce Center, include biotech lab space, home to some of the latest space shuttle technology and clean room space in the United States.
Known as the wireless capital of the world, the San Diego region is one of the fastest growing in the United States. It also has the third largest concentration of biotech companies in the United States. Due to this diversity, the company sees a tremendous long-term investment potential there. Schnitzer Properties continues to seek quality investment and development opportunities in office, multi-tenant industrial, retail, and multi-family properties.