Encinitas Firm Buys Two Commercial Properties for $7 Million
Stos Partners of Encinitas has acquired two commercial properties, located in San Dimas and Encinitas, for a total of $7 million, the company announced.
A company statement said the investment firm purchased a 50,643-square-foot office building in San Dimas, previously owned by ITT Technical Institute, through a trustee sale for $5 million. Stos Partners was represented by Taylor Ing, of brokerage firm Newmark Grubb Knight Frank, in the deal for the two-story property at 650 W. Cienega Ave. near state Route 57.
In downtown Encinitas, Stos Partners acquired a vacant 3,400-square-foot office building at 655 Second St. for $2 million. Stos plans to market the property, which is contiguous to its own headquarters, for lease to a single tenant or as executive suites while pursuing redevelopment entitlements.
According to CoStar Group and public data, the Encinitas building was constructed in 1987 and was sold by owner Nicole Gasperoni of Encinitas.
Led by Principal CJ Stos, the privately held Stos Partners invests in and develops office, industrial and related commercial properties. The company is based in Encinitas and has a regional office in Orange County.
Article source: SDBJ