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Industrial building at 42301 Zevo Drive in Temecula, CA is occupied by publicly-traded, global healthcare leader that will manufacture quick COVID-19 tests onsite at the facility.
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TEMECULA, CA – Stos Partners, a privately
held commercial real estate investment and management firm, has acquired a
228,912 square-foot industrial asset in Temecula, California for $28.9 million
in an off-market transaction.
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| CJ Stos |
“Temecula has undergone rapid expansion over the last several years as companies continue to relocate from other Southern California markets, driving strong demand to the property.”
Stos explains that
the firm’s ability to quickly identify and source this deal in the current
market landscape speaks to the strength of its deep relationships, as well as
its strong track record and reputation in the industry.
“We are one of the most active buyers of industrial product in Southern California,” he says. “We are extremely well-capitalized, have a deep understanding of the local market and can move quickly to get deals done.”
The property is
currently 100-percent occupied. A global, publicly-traded healthcare leader
occupies the majority of the building and plans to utilize the facility as part
of its distribution network for quick COVID-19 tests.
“We are one of the most active buyers of industrial product in Southern California,” he says. “We are extremely well-capitalized, have a deep understanding of the local market and can move quickly to get deals done.”
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| Alisa Lovas |
“This is a strategic
addition to our growing portfolio with a strong in-place credit tenant,” says Jason
Richards, a Partner at Stos Partners.
“The healthcare
industry is one that is rarely impacted by market fluctuations as there is
always demand for healthcare services and products, especially now.
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| Jason Richards |
The property is located at 42301 Zevo Drive in Temecula, California.
Scott Stewart of Lee & Associates represented Stos
Partners as the buyer in the acquisition. Alisa Lovas of Lee &
Associates represented the seller, a private investor.
About Stos Partners:
Stos Partners is a privately held commercial real estate
investment and management firm that invests in real estate directly and in
partnership with high net worth and institutional investors.
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| Scott Stewart |
With a track record spanning over one-half billion in investments to date, the firm targets the most competitive risk-adjusted returns in the marketplace through opportunistic acquisitions, strategic redevelopment and ground-up development of both institutional and small-to-mid-cap commercial properties.
Headquartered in San Diego, California with an office in
Orange County, California and Laredo, Texas, Stos Partners’ local expertise and
longstanding relationships translate into the ability to source, fund and close
transactions quickly and profitably.
CONTACTS:
Lisa James / Lexi
Astfalk
(949) 438-6262
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