Friday, July 2, 2021

Stos Partners Trades 113,500-SF San Marcos, CA Cold Storage Industrial Facility

113,500 square-foot cold storage industrial facility,
505 South Pacific Street, San Marcos, CA

 

San Marcos, CA – Stos Partners, a privately held commercial real estate investment firm, has announced the sale of a 113,500 square-foot cold storage industrial facility in the San Diego, California submarket of San Marcos.

 CJ Stos

 Stos Partners initially acquired the vacant asset for $18.9 million in April of 2020. After implementing a strategic value-add program and securing a triple-net lease to Stone Brewing, the largest brewery in Southern California, the firm sold the property for $42.2 million to an institutional buyer, notes CJ Stos, Principal at Stos Partners.

 

Jay Boyle

“We immediately recognized the potential in this asset based on its prime location with easy access to North and South San Diego, as well as the Inland Empire,” says Stos.

 Jason Richards
 

“Demand for cold storage facilities has grown exponentially during the COVID-19 pandemic. In fact, the value of the cold storage sector is on track to grow by $102.2 billion in the next five years, according to a recent Transwestern report.”

 

Darla Longo

The Stos team was able to build on these strong fundamentals as well as the strength of the local San Diego industrial market to create property-level value, ultimately leasing the property Stone Brewing, who plans to use the building as its headquarter location, according to Jay Boyle, Executive Vice President at Stos Partners.

 “The San Diego industrial market is outperforming many others in the nation, posting its highest net absorption since 2018 in Q1 of 2021,” says Boyle.

 

Barbara Perrier

“As a seasoned investor in this community, our firm understands the nuances of the local market and maintains strong relationships with exceptional brokers and partners, allowing us to move quickly and nimbly in response to market drivers.

 "At an uncertain time when many investors brought their activity to a halt, we had the experience, confidence, and foresight to proceed with this acquisition and lucrative business plan.”

Louay Alsadek 

During its ownership, Stos implemented a series of upgrades at the property including a new roof, new paint, mechanical enhancements, fresh landscaping, and other general building improvements.

“The vision for this project was to transform an under-used cold storage facility in an in-demand location into a performing investment, and we’ve accomplished exactly that,” Jason Richards, partner with Stos Partners, explains.

The property is located at 505 South Pacific Street in San Marcos, California.

 

Hunter Rowe

Darla Longo, Barbara Perrier, Louay Alsadek and Hunter Rowe with CBRE, and Bob Willingham with Kidder Matthews represented Stos Partners as the seller in this transaction.

 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.

 

Bob Willingham

With a track record spanning over 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.

 

CONTACTS:

Katie Haga / Elisabeth Manville

Brower Group

(949) 438-6262

khaga@brower-group.com  

www.stospartners.com


No comments:

Post a Comment