Alex Done Deals: Stos Partners Pays $25 Million for Four Industrial Properties in Southern California
Industrial Asset, 3670 Ruffin Road, San Diego, CA
SAN DIEGO, CA and TEMECULA, CA – Stos Partners, a privately held commercial real estate investment and management firm, has expanded its Southern California portfolio with the acquisition of four industrial properties encompassing 177,898 square feet.
The firm acquired one property in Temecula, California and three in San Diego, California for a total consideration of $25 million.
“As one of the most active buyers of industrial product in the Southern California region, we understand the tremendous value creation that is possible in this product type,” says CJ Stos, Principal of Stos Partners.
“Each of the properties we acquired is situated in a prime location within their respective markets, and offers the ability to create long-term value through repositioning and strategic leasing.
“Our ability to source these assets in the current market speaks to our firm’s rapid movement, our surety of close, and our strong track record and reputation.”
Stos Partners’ new acquisitions include:
Stos Acquires Industrial Refrigeration Facility and Expands Tenant to 100% Occupancy
Stos Partners has also acquired a 53,601 square-foot industrial property in San Diego, California for $6.150 million. The property, a freestanding refrigeration facility, was occupied by two tenants – one of whom is the seller.
The property is located at 9925 Airway Drive in San Diego, California. Louay Alsadek and Hunter Rowe of CBRE represented Stos Partners as the buyer in the transaction. The seller was represented by Erik Parker, Joe Smith, and John C. Smith of CBRE.
Stos Acquires Industrial Property in Kearny Mesa and Secures Long-Term Lease
Stos Partners also acquired a 21,200 square-foot industrial property in the Kearny Mesa submarket of San Diego, California for $4.65 million.
The property is located at 3670 Ruffin Road in San Diego, California. Bryce Aberg and Brant Aberg of Cushman & Wakefield represented Stos Partners as the buyer in the transaction. The seller, a private investor, was represented by Brent Bohlken, Paul Britvar and Justin Maiolo with Newmark Knight Frank.
Stos Acquires and Brings Temecula Facility to 100% Occupancy
Stos Partners has acquired a 65,315 square-foot industrial building in Temecula, California for $7.1 million. The seller, a publicly traded company, leased back approximately 50 percent of the building to continue its operations in the facility for the long term.
The property is located at 28410 Vincent Moraga Drive in Temecula, California. Rob Gunness and Kevin Kelly of CBRE represented the seller in the transaction.
Stos Acquires Miramar Industrial Building Off-Market
Stos Partners has also acquired a 37,882 square-foot industrial property in Miramar, California in an off-market transaction for a total consideration of $6.305 million.
Stos plans to reposition and improve the property with $500,000 in capital upgrades and expects to attract a full-building tenant quickly.
Glenn Arnold and Jeffrey Sallen of Cushman & Wakefield represented both Stos Partners and the seller in the off-market acquisition. The property is located at 9600 Kearny Villa Road in San Diego, California.
Article source: alex-donedeals.blogspot.com