ConnectCRE: Stos Partners Divests High-Tech Manufacturing Property After 18-Month Hold
Stos Partners completed sale of a 71,616-square-foot high-tech manufacturing property located at 1311 Valencia Avenue in Tustin to KTI Hydraulics, Inc. The sale price was $26.5 million.
Stos Partners acquired the property in December 2021 for $19.2 million. The company implemented its value-add strategy and capital improvement program which included a new roof, parking lot, exterior painting, landscaping and interior improvements.
“The Orange County market has seen great demand for specialized manufacturing assets because of its growth in the life science and R&D industries,” said CJ Stos, principal at Stos Partners. “Our team identified this asset’s value during the initial acquisition in 2021. Through deep relationships with local brokers, we were able to secure a buyer in a timely manner.”
Stos Partners was represented by Nick Valasquez and Michael Hartel with Colliers along with Ross Bourne with CBRE. Xavier Nolasco and Steve Wagner with JLL represented the buyer.
Article source: connectcre.com