Monday, December 8, 2014

SR Commercial Completes Project Cycle With $13.35 Million Sale of Vista, CA Industrial Property


2611 Business Park Drive, Vista, CA


CJ Stos
SAN DIEGO, CA (Dec. 8, 2014) – SR Commercial, a privately held, full-service commercial real estate investment company, has completed a full-cycle repositioning project in Vista, California with the $13.55 million sale of a 128,531 square-foot, Class A industrial property.

SR Commercial acquired the property in February 2013 for $79 per-square-foot and was able to sell the building for $105.50 per-square-foot after implementing its strategic rehab and repositioning plan, according to CJ Stos, a Principal at SR Commercial.

“The current investment climate requires rapid and strategic action from property owners and investors,” explains Stos, who founded SR Commercial along with partner Adam Robinson.

 “This particular project exemplifies our firm’s ability to quickly acquire and reposition properties; resulting in additional quality product for the supply-constrained Greater San Diego industrial market.” 

This single-tenant manufacturing and distribution building, which is situated on nearly ten acres of land and includes approximately one acre of outside storage, was initially constructed as a build-to-suit for Dimension One Spas in 2001.

Adam Robinson
 The property served as Dimension One’s corporate headquarters until its leaseback agreement with SR Commercial came to term in November 2013.

 “When we acquired the property, we immediately implemented exterior improvements, followed by interior enhancements after the building was vacant, which boosted the property’s appearance and functionality,” notes Stos.

“After completing all improvements in early 2014, we aggressively marketed the project and secured a buyer with help of our broker partners within seven months.”

Joe McDermott, Ron King, and Bob Willingham of Cushman & Wakefield represented SR Commercial as the seller. The buyer, KI-Vista-LPSM LLC, was represented by Colliers International.

According to Cushman & Wakefield, the buyer secured a lease during escrow with Escondido-based Stone Brewing Co. for its new national distribution center.

The property is located at 2611 Business Park Drive in Vista, California.

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

Amanda Alenick Brenner/ Jenn Quader
 Brower, Miller & Cole
(949) 955-7940



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