|
|
1/31/17
|
Stos Partners recently closed on two San Diego acquisitions, one a two-tenant industrial building in Escondido, and the other a two-tenant retail property in the heart of Downtown Oceanside.
In the Escondio deal, Stos Partners purchased a 20k sf industrial property located at 2250 Micro from a private investment group for $124/sf. The building was 50% leased to an electrical contracting company.
During escrow, Stos Partners was able to secure a long-term lease with a Fortune 500 company, bringing the property to full occupancy. The asset, which was recently renovated by the seller, offers freeway visibility, grade-level and dock-high loading, as well as fenced-in outside storage.
Tucker Hohenstein and Mike Erwin with Colliers International represented the buyer and the seller, 2250 Micro LLC, in the deal.
In the other transaction, Stos Partners acquired a two-tenant retail property on Mission Ave in Oceanside for $1.37 mil from a private owner. The company intends to invest in significant capital upgrades to the building, with plans to create a contemporary space featuring exposed bow truss ceilings with skylights, exposed beams, concrete floors, and other creative elements.
Stos Partners will market the property as retail and/or office space, and anticipates high demand from potential tenants. The retail property also includes significant parking, which is unique in this downtown area.
The property is located at 610-612 Mission Ave, a couple of blocks east of Coast Hwy. Cushman & Wakefield’s Peter Curry represented both the buyer and seller in this transaction.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
