 |
| 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
No comments:
Post a Comment