San Diego Business Park sells for $26.5M to Sukut. Last updated: November 8, 2026 2:29 pm A 71,597-square-foot industrial property at 5965 and 5975 Santa Fe St. in San Diego has sold for $26.5 million, changing hands after being fully renovated and leased to a pair of defense-technology tenants. The buyer, Sukut Real Properties, picked up the fully occupied 5&52 Business Park from its prior owners in a deal brokered by commercial real estate giant CBRE. San Diego-based Parallel Capital Partners and Boston-based Long Wharf Capital were the sellers, according to Connect CRE. CBRE's Hunter Rowe, Matt Carlson, Mike Longo and Matt Pourcho represented the sellers in the transaction. Parallel Capital acquired the property completely vacant in November 2024 before it underwent a full renovation. That renovation included new roofs, skylights, LED lighting, HVAC systems, modern office buildouts, warehouse upgrades, exterior improvements, and electrical and plumbing work, per the same outlet's reporting. Once the upgrades were complete, the park was fully leased to two tenants: autonomous boat maker Seasats and software firm Applied Intuition. Defense tenants driving investor interest. Hunter Rowe, a CBRE senior vice president, said the sale reflected an opportunity to acquire a fully leased and repositioned coastal industrial asset. He pointed to a broader shift reshaping San Diego's industrial market: investors increasingly chasing properties tied to the region's defense sector. "Investors are focused on assets where next-generation defense technology tenants are driving innovation and growth," Rowe said, according to Connect CRE's report. That framing lines up with what a San Diego Regional Economic Development Corporation report found last month. The region ranks 10th nationally in overall defense contract spending but first in autonomous systems, according to KPBS. The Pentagon spends roughly $1.5 billion on autonomous and unmanned systems contracts in San Diego, and the defense industry as a whole makes up about 20% of the region's economy, the outlet reported. One of the park's own tenants illustrates that pipeline. Seasats opened a new San Diego headquarters last month to ramp up production of autonomous boats ordered by the Pentagon, according to The San Diego Union-Tribune. The company received $2.5 million for a program called Operation River Wall, with the potential to be awarded up to $15.5 million, and the Pentagon has announced plans to expand the Lightfish fleet of test vessels from 10 to 50, the Union-Tribune reported. A quick turnaround since 2024. The sale caps a fast transformation for the property. Parallel Capital paid the San Diego Association of Governments $14.5 million for the two-building, roughly 72,000-square-foot site in November 2024, according to Commercial Observer. Exactly two years later, the fully renovated and leased park sold for nearly double that price. Mixed signals in San Diego's Industrial Market. Kidder Mathews reported that San Diego industrial direct net absorption turned positive at 205,737 square feet in the third quarter, reversing a negative 272,100-square-foot showing the prior quarter, according to the firm's San Diego Industrial Market Report. That same report put total vacancy at 7.2%, down 20 basis points quarter over quarter, with availability at 11.1% and average direct asking rent holding steady at $1.47 per square foot per month on a triple-net basis. Cushman & Wakefield's numbers tell a somewhat different story. The firm's MarketBeat San Diego Industrial report put vacancy, including sublease space, at 7.6% in the third quarter, up 40 basis points quarter over quarter and 20 basis points year over year, with leasing activity down 22% from the prior quarter to 1.6 million square feet - still above the five-year quarterly average of 1.3 million square feet. The firm also reported average asking rent across all product types at $1.45 per square foot per month, up slightly from the prior quarter but down 2.3% year over year. The two firms also diverge sharply on investment volume for the quarter. Kidder Mathews reported $430.7 million in industrial investment sales across 51 transactions totaling 1.8 million square feet, citing the $45 million sale of Carlsbad Research Center and the $31 million sale of 901 Bay Marina Drive in National City as notable deals. Cushman & Wakefield, meanwhile, reported total investment volume of just $241 million, down 34% quarter over quarter and 9% year over year, with average sale prices falling to $234 per square foot. The two reports do not reconcile the gap between their figures.

San Diego USV maker says Quickfish has entered production. Sep 3, 2026 Modified date: Sep 3, 2026 Key Points * Seasats said its Quickfish interceptor USV has entered production, offering 40-plus knot speeds and weeks-long endurance at sea. * The company deployed Quickfish and four other USVs during the Navy's Silent Swarm 2026 electromagnetic warfare exercise in Alpena, Michigan. San Diego-based unmanned surface vessel maker Seasats said its Quickfish interceptor-class USV has entered production and is now available at scale. The company said Quickfish is built on Seasats' existing technology stack and can sprint at more than 40 knots (74 km/h) while remaining at sea for weeks at a time. It has a large modular payload bay designed to carry a range of mission systems, including unmanned aircraft, according to Seasats. The company said the hull is self-righting and built to survive Sea State 10 conditions, the roughest classification on the World Meteorological Organization's sea state scale. Seasats took part in Silent Swarm 2026, a two-week Electromagnetic Spectrum Operations experimentation event run by the Naval Surface Warfare Center, Crane Division. The exercise took place July 13 to 24 at the Alpena Combat Readiness Training Center in Michigan, part of the National All-Domain Warfighting Center, and drew participants including the Michigan National Guard, NOAA, the Army's C5ISR Center and the Air Force Test Center. - ADVERTISEMENT - CONTINUE READING BELOW - Discover more Military technology reports Seasats said it deployed a fleet of five autonomous surface vessels during the exercise, including its Lightfish and Quickfish platforms, to demonstrate coordinated multi-platform operations with a small number of operators. The company said the event also involved integrating maritime sensing and electromagnetic spectrum equipment across the fleet. A production-run Quickfish completed the full two-week exercise while carrying multiple payloads, Seasats said. The company described Quickfish as built on the Lightfish hull and electronics stack, adding high sea state performance, long range and a payload bay sized for aerial vehicles. Seasats also said the boat includes an on-station patrol mode that allows it to stay deployed for weeks without refueling. Seasats credited the Naval Surface Warfare Center, Crane Division for the opportunity to test the technology. The company said Quickfish's payload bay is watertight and can hold several unmanned aircraft of different types and sizes. That allows a single vessel to be reconfigured for different missions, such as intelligence, surveillance and reconnaissance, communications relay or strike, without modifying the boat itself, according to Seasats. Because the aircraft ride inside the enclosed bay, the company said a Quickfish on patrol gives no outward sign of what it is carrying. Seasats linked that capability to the Defense Innovation Unit's Suitable Warfighting Adaptive Payloads program, known as SWAP-USV, which is seeking mature, affordable unmanned surface vessels that can integrate with unmanned aircraft to counter asymmetric threats at sea. The company said Quickfish is in production now and can be delivered on DIU's timeline. Readers who wish to follow its weekly coverage can subscribe to the Weekly Defense Roundup. If you wish to report a grammatical or factual error in this article, please let Iniaes LLC. know by using the online form. Executive Editor Support The Defence Blog

Seasats has completed an eight-day continuous sea trial of its Quickfish unmanned surface vessel, demonstrating extended endurance capabilities for the interceptor-class platform. The high-speed USV reaches over 35 knots and is designed for multi-week on-station operations, supporting port security, border protection and coastal defence missions. The Quickfish features a payload bay for delivering unmanned aerial vehicles and combines low-speed electric propulsion with high-speed jet drive. This distinguishes it from similar vessels typically limited to one or two days of endurance. San Diego-based Seasats has secured significant Department of War contracts, including deals with the US Marine Corps in 2025 and 2026. The company previously completed record-setting endurance runs and ocean crossings with its proven Lightfish USV platform.