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| CJ Stos |
Stos acquired the asset in November of 2016 for $12.225 million, reflecting a 210% project level IRR in just 14 months.
“As an investor, this deal reflects a tremendous win, not
only for our firm, but also for our buyer,” says CJ Stos.
“By recognizing the value in this asset from the beginning, we were able to strategically attract and secure a long-term lease with a major Fortune 500 company immediately upon acquisition, bringing the asset to 100% occupancy and delivering a solid long-term investment for the new owner.”
The property was purchased by a large institution, which
reflects a larger trend of institutional demand in last-mile distribution
centers, according to Stos.
“By recognizing the value in this asset from the beginning, we were able to strategically attract and secure a long-term lease with a major Fortune 500 company immediately upon acquisition, bringing the asset to 100% occupancy and delivering a solid long-term investment for the new owner.”
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| Jason Richards |
“Institutional buyers understand the deep value of
well-located, single-tenant industrial facilities, which are perfectly
positioned to serve as last-mile delivery hubs for major e-commerce companies,”
says Stos.
“While we initially considered holding this asset for the long-term, we recognized the increasing institutional appetite for this product type, and knew that now was the right time to sell.”
“While we initially considered holding this asset for the long-term, we recognized the increasing institutional appetite for this product type, and knew that now was the right time to sell.”
The property is situated in close proximity to major
freeways and ports and features approximately three acres of excess land.
During its ownership, Stos Partners drew upon its in-house
management platform to implement several property improvements, including a new
roof, new exterior paint, an upgraded parking lot, and new monument signage.
“Based on our strong track record and knowledge in this
market, we implemented improvements that were most attractive to users, thus
maximizing value," says Jason Richards, a Partner at Stos Partners.
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| Anthony DeLorenzo |
"By addressing the needs of the property and securing a strong credit
tenant, we were able to attract interest from several buyers nationwide, and
ultimately achieve a premium price for this asset.”
The property is located at 901 Bay Marina Drive in National
City, California. Anthony DeLorenzo, Matt Pourcho, and Gary Stache
of CBRE represented Stos Partners as the seller in the transaction.
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.
 |
| Matt Pourcho |
Led by a Principal with a track record of being one of the most active buyers
of commercial real estate between 2009 – 2017 in Southern California, 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.
Stos Partners delivers deep local expertise and longstanding relationships that
translate to a unique ability to source deals quickly and profitably.
For more information, please contact:
Miki
Akil / Jenn Quader
Brower
Group
(949)
955-7940
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