Wednesday, August 2, 2017

Stos Partners Acquires Prime 170,805-SF Multi-Tenant Industrial Asset in Chula Vista, CA Submarket

CJ Stos
SAN DIEGO, CA (Aug. 2, 2017) – In a move that proves there is still good value to be found in the tight industrial market of San Diego’s sought-after South Bay region, Stos Partners, a privately held commercial real estate investment and management firm, has acquired a 170,805 square-foot two building multi-tenant industrial project at 1670-1690 Brandywine Avenue in Chula Vista, California
            Michael Mossmer of Voit Real Estate Services represented Stos Partners as the buyer in the $13.45 million acquisition, as well as the seller, a private family.

The property, which was acquired off-market, is widely considered desirable by private and institutional investors due to its size, location and mix of local and national tenants from many industries.

 “This is one of the most sought-after opportunities in the region, and we were able to acquire it at a price that many would think was not possible,” says Jason Richards, a Partner at Stos Partners. “Our investment platform is centered on identifying well-located office and industrial assets with a value-add component.”

Jason Richards
The project is currently 100% occupied by a mix of local and national credit tenants in various industries, including manufacturing, medical supply and distribution, as well as defense.

“Multi-tenant industrial remains the gem of the industrial investment sector, and is exceptionally hard to find in today’s supply-constrained market,” says CJ Stos, Principal of Stos Partners. “By working closely with our broker to source this deal off-market, we were able to acquire the asset 50% below replacement cost, and now have a tremendous opportunity to create and maintain value.”

Stos explains that this submarket is benefitting from exceptionally tight, 1-2% vacancy in neighboring National City, which is driving tenants to Chula Vista.

For a complete copy of the company’s news release, please contact:

Lauren Burgos / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

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