 |
| CJ Stos |
SAN DIEGO, CA– SR Commercial, a
privately held, full-service commercial real estate investment company, has
acquired an 11.8-acre land parcel in Carlsbad, California, on which the firm
plans to develop a 151,500 square-foot multi-tenant industrial distribution
project, according to CJ Stos, a
Principal at SR Commercial.
“The timing is right for this spec development,” says Stos,
who founded SR Commercial along with partner Adam Robinson.
“There is active tenant demand for
multi-tenant industrial space, coupled with a limited supply of this product
type in the Carlsbad region. The
combination of these factors translates into a tremendous opportunity for our
firm to add value to this Southern California industrial hub.”
SR Commercial Principal Adam
Robinson explains, “Currently, there are only seven industrial business
parks in the Carlsbad and Vista submarkets that offer small unit sizes with
both grade-level and dock-high positions.
“Those properties have averaged 97 percent occupancy over
the past nine months. Based on this analysis of existing product performance,
as well as overall market vacancy rates, which are as tight as seven percent
for the overall industrial market, and a miniscule three percent for incubator
industrial distribution projects, the market is ready for the new project we
have planned.”
 |
| Adam Robinson |
SR Commercial plans to develop and operate a high-quality
multi-tenant industrial distribution business park with suite sizes ranging
from 3,400 to 35,500 square feet, according to Stos.
The ground-up development
project will be located in Carlsbad Oaks North, a new 414-acre master planned
corporate business park in Carlsbad, California, which currently consists of 25
vacant lots.
The approximately 151,500 square-foot incubator project will
be state-of-the-art featuring, 27-foot to 32-foot clear height, abundant
dock-high and grade-level loading, an ESFR sprinkler system, and ample parking
at approximately 2.4 per 1,000 square feet.
As part of SR Commercial’s long-term investment strategy,
the firm plans to hold the property for a fifteen plus year period.
SR Commercial acquired the 11.8-acre land parcel for a total
consideration of $6.16 million. Mike Erwin, Conor Boyle and Tucker Hohenstein
of Colliers International represented SR Commercial as the buyer, and also
represented Techbilt Construction Corp. as the seller in the transaction.
SR Commercial is a privately held, full-service commercial
real estate investment company that acquires, owns and develops
income-producing industrial and office properties.
 |
| Planned Industrial Building in Carlsbad, CA |
The firm, which partners with both high net
worth private capital and institutional investors, has acquired 68 properties
totaling approximately two million square feet and more than $250 million in
commercial properties since 2011, and continues to conduct successful value-add
repositioning and ground-up development projects.
SR Commercial’s two Principals are Adam S. Robinson, CPM,
CCIM, SIOR; and CJ Stos, MRED. With its corporate office in San Diego and the
Principals' close ties to Orange County and Los Angeles County, SR Commercial
has positioned itself as one of the leading real estate investment companies in
its markets.
More information is available at www.sr-commercial.com.
For a complete copy
of the company’s news release, please contact:
Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
No comments:
Post a Comment