Friday, April 12, 2013

SR Commercial Completes Largest Industrial Acquisition in North San Diego County, CA in 2013

 

     La Pacifica industrial park, 3801, 3809, and 3817 Ocean Ranch Boulevard, Oceanside, CA  


SAN DIEGO, CA (April 12, 2013) – SR Commercial, a privately held, full-service commercial real estate investment company, has acquired La Pacifica, a 230,000 square-foot multi-tenant industrial park located in Oceanside, Calif. for a total consideration of $19.8 million.

Adam Robinson
La Pacifica is located at 3801, 3809, and 3817 Ocean Ranch Boulevard in Oceanside, Calif. 

This acquisition marks the largest industrial transaction in North San Diego in the 2013 calendar year based on total square footage and consideration, according to Adam Robinson, a Principal of SR Commercial.

“Quality, for-sale multi-tenant industrial product is scarce in the current San Diego market, and the competition for these assets is strong,”  says Robinson, who founded SR Commercial with CJ Stos.

 “This is especially true in North San Diego, where the industrial market continues to grow and attract manufacturing and distribution tenants.  At SR Commercial, we have been able to adapt to this competitive environment by creating a strong track record of closings in Southern California.”

CJ Stos
Including this most recent acquisition, SR Commercial has acquired over $50 million in industrial product over the past 12 months, according to Robinson, who notes that most of these transactions were off-market deals.

Bob Willingham and Ron King of Cushman & Wakefield identified the off-market opportunity to purchase La Pacifica, and represented SR Commercial as the buyer in the transaction. 

The seller, Congressman Darrell Issa, U.S. Representative for California's 49th congressional district, was represented by Aric Stark and Dennis Visser of Cassidy Turley.

“To compete for this property, the seller was seeking a buyer who could close all-cash within 45 days, and we were able to do that,” says Robinson.


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

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

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