 |
| CJ Stos |
VENTURA COUNTY, CA, July 8, 2021 – Stos Partners, a privately held commercial real estate investment firm, has acquired an approximately 125,000 square-foot multi-tenant industrial property in the Ventura County submarket of Simi Valley, California, from a private seller for $20 million.
According to Jason Richards, Partner at Stos
Partners, the San Diego-based firm was able to draw on close relationships to
secure the asset through an off-market transaction.
 |
| Jason Richards |
“The asset is in an exceptional Ventura County
location that offers close proximity to the San Fernando Valley and Downtown
Los Angeles, further driving its appeal to quality tenants.”
The property is 94% leased to a diverse base of several
long-term tenants, notes Richards.
 |
| Dan Cherrie |
The property is located at 2320-2380 Shasta Way in Simi Valley, California. Dan Cherrie with CBRE represented Stos Partners as the buyer.
CJ Stos, Principal at Stos Partners, adds: “Drawing upon deep experience in industrial markets throughout Southern California, we are continuously monitoring for opportunities to acquire properties best situated for growth.
"Our firm’s ability to quickly identify and
source deals speaks to the strength of our relationships, as well as our strong
track record and reputation in the industry.”
 |
| Tanner Jansen |
According to Tanner Jansen, Vice President of Acquisitions
at Stos Partners, the asset presents the opportunity to bring rents up to
market through Stos Partners’ proven value-add business plan.
“We will immediately implement capital improvements
including mechanical system upgrades, parking lot repaving, and fresh paint on
both the exteriors and interiors, in order to better accommodate its current
uses as well as attract new tenants and unlock new value potential,” Jansen
explains.
CONTACTS:
Katie
Haga / Elisabeth Manville
(949) 438-6262
No comments:
Post a Comment