Image courtesy of JLL

A San Francisco real estate investor has acquired a fully-leased warehouse, manufacturing and R&D facility in the tightening Boston south suburban industrial market.

Berkeley Partners acquired 244 Vanderbilt Ave. in Norwood from Arris Partners LLC for $7.5 million. The 44,406-square-foot facility was completed in 1980 and is leased to Source Code, a manufacturer of custom computing hardware. The building has 22-foot clear heights, six loading positions and heavy power.

JLL Managing Directors Matthew Sherry and Michael Restivo represented the buyer.

The property previously traded for $5.5 million in November 2017, according to The Warren Group, publisher of Banker & Tradesman.

Vacancies in local industrial submarkets including the south suburbs remain in the single-digits amid strong demand from distribution, warehouse and manufacturing tenants. No new supply has been delivered in the south suburban market year-to-date, and the vacancy rate sat at 5.5 percent in the first quarter, according to JLL research.

“Demand for well-located and functional industrial and flex product continues to be top of mind for investors in the Boston market,” Restivo said in a statement.