 |
| CJ Stos |
SAN DIEGO, CA – Stos
Partners, a privately held commercial real estate investment and management firm,
has acquired two properties in San Diego, including a two-tenant industrial
building in Escondido, and a two-tenant retail property in the heart of
Downtown Oceanside.
“The San Diego commercial
real estate market continues to tighten and there is tremendous investor
interest in both of these submarkets,” says CJ Stos, Principal of Stos Partners.
“Each of these transactions demonstrates our
overarching investment strategy, which is to acquire quality product in
irreplaceable locations, then hold those assets for the long term in order to
generate strong cash flow and returns over time.”
Stos Partners’ recent
acquisitions include:
Acquisition #1:
Stos Acquires Escondido Industrial Building; Brings Asset To 100%
Occupancy
Stos Partners acquired a 20,000
square-foot industrial property located at 2250 Micro in Escondido for $124
per-square-foot from a private group of investors.
The building was 50-percent leased
to an electrical contracting company.
During escrow, Stos Partners was able to secure a long-term lease with a
Fortune 500 company, concluding that company’s exhaustive search for the
perfect long term location in North San Diego and bringing the property to full
occupancy.
 |
| Escondido, CA Industrial Building |
“This transaction is a great value
opportunity for our firm,” says Stos.
“The asset was recently renovated by the seller, offers freeway
visibility, grade level and dock high loading, as well as fenced-in outside
storage - industrial amenities that are
rare in this market.
"We
recognized the opportunity to secure a strong tenant from the start and were
able to execute on that strategy before the transaction closed.”
This activity is becoming a trend for Stos
Partners. The firm acquired a vacant 91,541 square-foot industrial facility in
San Diego’s National City submarket in Q4 of 2016 and secured a full-building
lease with a credit tenant during escrow.
“There is a lack of availability in the
100,000 square-foot size range, making functional, well-located industrial
buildings even more attractive,” says Stos.
“We believe this trend will continue in the short term, and that owners
and operators of quality real estate will benefit from this activity.”
Tucker Hohenstein and Mike Erwin, Executive Vice Presidents at
Colliers International, represented Stos Partners as the buyer in this
transaction and 2250 Micro LLC as the seller.
Acquisition #2:
Stos Snaps Up Rare Retail In Downtown Oceanside
 |
| Mission Avenue Retail Property, Oceanside, CA |
Stos Partners acquired a two-tenant
retail property on Mission Avenue in Oceanside for $1.37 million from a private
owner.
“Opportunities like this are
becoming harder to come by,” says Jason
Richards, a Partner at Stos Partners.
“There has been a revitalization underway along Mission Avenue for some
time in addition to the greater Oceanside downtown area.
"The City of Oceanside has completed capital
improvements including new landscaping, new sidewalks, and the expansion and
renovation of the Oceanside Transit Center.
Additional new projects including a new downtown hotel are also
underway”
Richards explains that this
activity is driving demand from new retailers, breweries, restaurants, and
shops, including concepts that are new to the downtown Oceanside area.
“This is our opportunity to own
real estate in the epicenter of this activity, and we recognize the potential
in owning this asset long term,” he says.
Stos Partners will invest in
significant capital upgrades to the building, with plans to create a
contemporary space featuring exposed bow truss ceilings with skylights, exposed
beams, concrete floors, and other creative elements.
 |
| Peter Curry |
“We have experience in successfully
transforming properties in order to maximize their true value. We plan to do
the same with this property,” says Richards.
Stos Partners will market the
property as retail and/or office space, and anticipates high demand from
potential tenants.
“This is a perfect location for a
restaurant or bar or a creative company looking for modern office space,” says
Richards.
The retail property also
includes significant parking, which is unique in this downtown area.
Peter Curry,
a Managing Director with Cushman & Wakefield, represented both the buyer
and seller in this transaction. The
property is located at 610-612 Mission Avenue in Oceanside, California.
Headquartered in San Diego with an
office in Orange County, Stos Partners is a privately held commercial real
estate investment and management firm that acquires, owns, operates and
develops opportunistic commercial properties with a focus on value-add
industrial and office investments.
Led by a Principal with a track
record of being the most active buyer of commercial real estate between 2009 –
2015 in San Diego, the firm partners with high net worth private capital and
institutional investors to identify and invest in assets that are poised for
strong future growth.
For a complete copy of the company’s news release, please
contact:
Lauren Burgos
Junior Account Executive
Brower, Miller & Cole
895 Dove Street, Third
Floor
Newport Beach, CA 92660
p: (949) 955-7940
