 |
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
