Friday, March 26, 2021

Stos Partners Sells 70,224-SF Industrial Property for $13 Million in an Off-Market Deal in Carlsbad, CA

 

             SOLD: This 70,224 square-foot industrial property 

             in the San Diego County submarket of Carlsbad, CA 

            for $13 million in an off-market transaction.

 

SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment firm, has sold a 70,224 square-foot industrial property in the San Diego County submarket of Carlsbad, California for $13 million in an off-market transaction.

CJ Stos
The firm acquired the asset for $9.7 million in August 2019, according to CJ Stos, Principal of Stos Partners. 

  “After purchasing this cash-flowing asset with an in-place lease at an attractive basis, our initial business plan was to hold the property long term and explore future repositioning opportunities,” explains Stos.

  “Ultimately, we were approached by an institutional-grade buyer after just over a year of ownership, who presented us with a strong offer that we could not turn down.”

 According to Jason Richards, Partner at Stos Partners, this transaction reflects the firm’s ability to remain nimble: “As one of the most active commercial real estate investors in Southern California, we are in tune with the market and can quickly evaluate and strategically act on opportunities like these.” 

 Jason Richards

 The property is located in Carlsbad’s Industrial Corridor. Currently fully leased to a go-kart racing tenant, the building is well-suited to a range of light industrial uses.

Jay Boyle, Executive Vice President at Stos Partners, adds: 

“The fact that we were able to sell this asset for 34% more than our purchase price, after just over 18 months and implementing only very minor landscaping upgrades, speaks to the strength of our close relationships within the market and the continued high demand and growth trajectory of the industrial sector, despite the uncertainty of this past year.”

 Stos Partners initially purchased the asset in a joint venture with Boston-based private equity firm Long Wharf Capital. Situated in close proximity to Carlsbad’s McClellan-Palomar Airport, the property is located at 6212 Corte Del Abeto in Carlsbad, California.

Jay Boyle
 About Stos Partners

Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors. 

With a track record spanning approximately one billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through opportunistic acquisitions, strategic redevelopment and ground-up development of both institutional and small-to-mid-cap commercial properties.

Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably.

 

 CONTACTS:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

www.stospartners.com

www.longwharf.com

 

 

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