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.

 

JLL Capital Markets arranges $85 million refinancing of the 456,390-square-foot Janss Marketplace in Thousand Oaks, CA

Alethia Halamandaris

 

 LOS ANGELES,  Dec. 15, 2022 – JLL Capital Markets  has closed the $84.7 million refinancing for Janss Marketplace, a 456,390-square-foot, grocery-anchored regional retail center located in Thousand Oaks, CA.

 

JLL represented the borrower, an affiliate of Maxxam Enterprises, to secure the financing with TerraCotta Credit Fund, LP.

Matt Stewart

Built in phases from 1959 to 1999 and renovated in 2007 and 2020, the 90-percent-occupied center currently attracts four million visitors annually.

 

 Janss Marketplace offers a diverse tenant mix of destination entertainment tenants, unique restaurants and experiential and daily needs retailers.

 The property is currently anchored by Aldi, a grocer with over 10,000 locations across 20 countries, ULTA, Petco, Old Navy, Five Below and Golds Gym.

 

Situated at 165-401 N Moorpark Rd. within Ventura County, the center is ideally located near the 101 freeway and is easily accessible to/from a variety of markets in Southern California.

 

The JLL Capital Markets Debt Advisory team was led by Senior Director Matt Stewart, Director Alethia Halamandaris and Analyst Chris Jaffe.

Chris Jaffe

 “Janss Marketplace is located in one of the strongest sub-markets in Southern California and will be one of the premier mixed-use destinations in the region,"  said Stewart.

 

"This was an amazing execution in today’s market environment; we worked with TerraCotta to structure a bespoke financing solution that met all of the sponsor’s objectives,”

 

CONTACT:

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

Island Hospitality Management Promotes Kate Bleakley to Vice President of Operations, WaterWalk Division

Kate Bleakley 

 

 WEST PALM BEACH, FL, Dec. 13, 2022 — Officials of Island Hospitality Management, the premier third-party management company for select-service and upscale, extended-stay hotels in the United States, announced today that Kate Bleakley has been promoted to vice president of operations, WaterWalk division.

 “With nearly two decades of hospitality experience, Kate joined our organization four years ago at the Residence Inn Denver Downtown and had an immediate impact on the service culture and profitability of that hotel,” said Drew Allison, executive vice president, Island Hospitality Management.  

Drew Allison

“In her most recent role at the Hyatt Place Cherry Creek, Kate utilized her background in sales and F&B to make immediate, positive changes for the property and the people with whom she works.  

"She is the ideal candidate to use her wide bandwidth of skills to lead our growing WaterWalk division.”

WaterWalk is a unique lodging option that combines the conveniences of a hotel with apartment-style living. 

Prior to joining Island, Bleakley held multiple positions with Millennium Hotels & Resorts, including hotel manager of Millennium Harvest House Boulder, where she successfully managed all aspects of the 16-acre, 269-room property to produce annual revenues of $10 million dollars. 

   

                 WaterWalk division of Island Hospitality

Bleakley completed Cornell University’s General Manager Program and received her Certified Government Meeting Professional (CGMP) designation through Society of Government Meeting Professionals (SGMP).  

She received her BSBA in international business from University of Denver’s Daniels College of Business.

CONTACT:

  Chris Daly (Media)

DG Public Relations

(703) 864-5553

 www.islandhospitality.com.