Stos Partners Sells 27,500-SF Industrial Building in Miramar, CA Submarket

 

 CJ Stos

SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment and management firm, has sold a 27,500 square-foot industrial asset in Miramar, California to a private investor.

Industrial Buiding,  8330 Arjons Drive, Miramar, CA Submarket

 

Brooks Campbell 

“Our firm has been extremely active in 2020 and will remain focused on the successful execution of our existing portfolio and sourcing new deals,” according to CJ Stos, Principal at Stos Partners.

 “As one of the more active investors in Southern California, both as a buyer and a seller, we continue to pay close attention to the market in order to position our assets for success, even in the midst of the COVID-19 pandemic,” says Stos.

  “Our team has been able to navigate these relatively choppy market conditions and make informed decisions that increase our ability to successfully execute.”

Bryce Aberg

 Stos Partners initially acquired the vacant asset in July of 2019 with Long Wharf Capital and they were able to reposition, lease up, and sell the property at a profit within a relatively short timeframe.

“The key value-add factor in this transaction was the rapid lease-up to 100% occupancy, which we accomplished in just four months from taking ownership,” says Jay Boyle, Executive Vice President at Stos Partners.

 “As an owner of 14 buildings in the Miramar submarket alone, we understood the potential in this property from the beginning. 

"This vision enabled our team to implement our business plan and exceed our proforma, ultimately delivering a strong return to our capital partner with this sale.”

 Brant Aberg 

 Stos initially acquired the property in a joint venture with Boston-based private equity firm Long Wharf Capital for $4.2 million. 

After implementing strategic upgrades including new landscape, a new parking lot, new roof, exterior building paint and office interior improvements, the partnership sold the asset for $7.525 million.

 “This sale speaks to our expertise in acquisitions and execution, and to the depth of our broker relationships, through which we were able to identify this ‘diamond in the rough’ asset and complete its strategic lease-up and sale,” says Jason Richards, partner with Stos Partners.

 Jason Richards

 “The transaction also reflects continued demand in the industrial sector, buoyed by strong local fundamentals and sustained demand from both national and regional users.”

 “Stos Partners continues to be bullish on industrial, and we are actively seeking additional acquisition opportunities in Southern California and other select markets,” says Stos.

  “As seasoned owners with more than six million square feet acquired and three million square feet in assets under management, our portfolio is well-positioned to withstand current economic headwinds and deliver long-term value to our tenants and partners.”

Bryce Aberg, Brant Aberg and Brooks Campbell of Cushman and Wakefield represented Stos Partners as the seller in the transaction.

 

 CONTACTS:

Jenn Quader / Katie Haga

Brower Group

(949) 438-6262

jquader@brower-group.com

 

 www.stospartners.com.

 www.longwharf.com.