Stos Partners completes $20 million industrial acquisition in Escondido, CA

 

PURCHASED:  $20 million, 86,690 square-foot freestanding industrial building

  2425 Auto Park Way, Escondido, CA

 San Diego, CA – Stos Partners, one of the most active commercial real estate investment and management firms in Southern California, announces the $20 million acquisition of an 86,690 square-foot freestanding industrial building in Escondido, CA. The transaction brings the firm’s total 2022 deal volume to nearly $300 million.

CJ Stos

 “With the industrial sector remaining our primary focus, our team has been able to successfully navigate this year’s market fluctuations, bringing our total 2022 acquisition volume to over $155 million among 15 purchases,” shares CJ Stos, Principal of Stos Partners.

 In addition to Stos Partners’ latest industrial acquisition, the firm also recently completed the $14.9 million sale of an 82,500 square-foot industrial warehouse in Phoenix, Arizona.

 “The high occupancy of this asset by existing tenants is a testament to this building’s value and the strength of Southern California industrial properties as a whole,” explains Jason Richards, Partner of Stos Partners.

 “80% of the property is currently leased to tenants who are renewing their leases, and a final lease renewal is in the works which, if closed, would bring the total lease rate of the property to 100% leased.”

 “Cash flow to industrial properties is strong, which is especially significant in the current tight capital markets environment,” notes Jay Boyle, Executive Vice President of Stos Partners.

  “From the location to the basis, this industrial building is an irreplaceable product type and exactly the kind of asset we want in our portfolio.”

Jason Richards

 The unique industrial asset, originally constructed in 1982, includes eight exterior docks and three ground-level doors for freight access.

 “From the building’s 18’-22’ clear heights to its uniquely divided sections for office space, the property is one-of-a-kind and possesses a high level of functionality,” explains Richards.

 With approximately 10,000 square feet of office space buildout, 11% of the total building square footage comprises dedicated areas including private business.

The off-market deal was sourced through Barry Hendler at Lee & Associates, who represented the buyer and seller, and the asset was acquired from Sound Image Incorporated.

 The property is located at 2425 Auto Park Way in Escondido, California.

Barry Hendler 

Demand for facilities including cold storage remains high, as the COVID-19 pandemic increased the need for these spaces, adds Boyle. “With so many investors seeking this type of asset, finding a buyer so soon is unsurprising.

The deal was sold by Phil Haenel and Will Strong of Cushman & Wakefield, and David Wilson and Carter Wilson of Daum Commercial, who represented Stos Partners in the sale.

 The property is located at 2434 South 10^th Street in Phoenix, Arizona.

 Three Multifamily Property Acquisition Deals in San Diego, California

 “Multifamily has established itself as one of the hardiest CRE asset classes,” says Sean Giffin, Vice President of Multifamily Acquisitions of Stos Partners. “We continue to expand our multifamily investment portfolio as we look to broaden our footprint across multiple sectors.”

David Wilson

 Throughout 2022, Stos Partners has also acquired three multifamily properties in San Diego, California, totaling 46 units for a total consideration of $15.43 million.

 The firm partnered with Apartment Worth on all three multifamily deals.

 CONTACTS:

 :Brooke Belt / Katie Haga

The Smart Agency, Inc.

(949) 438-6262

bbelt@thesmartagency.com

 www.stospartners.com.