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4/01/16
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RAF Pacifica Group and Stos Partners have purchased a 12-building, multi-tenant industrial/flex portfolio in San Diego. The four-project portfolio totaling 191.9k sf of space, includes Carroll Way Industrial Park, Sorrento Mesa Commerce Center, Rancho Pacifica and Oceanside Business Park.
The portfolio, which was 100% leased at the time of sale, was sold by a private investor who acquired the properties back in 2007. The new owners plan on investing in each of the projects to enhance the value and increase tenant rents to market rate. The transaction price was not disclosed.
The properties are located at 9030 and 9040 Carroll Way, 6915 Flanders Drive, 10320-10340 Camino Santa Fe, 15950 Bernardo Center Drive and 3025, 3033,3041,3044,3052 and 3060 Industry Street in San Diego.
Randy LaChance, Todd Holley, Brian Mulvaney and Josh West with Voit Real Estate Services’ San Diego office represented both the buyer and seller in the transaction.
“This was a unique opportunity to acquire four quality, multi-tenant business parks in San Diego. RAF and Stos have been one of the most active buyers of this product type over the past couple of years and this is a great fit with their existing portfolio,” according to LaChance.
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