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February 15, 2019
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Exchange Investor Pays $12.7 Mil for Oceanside Industrial Project


Courtyard Mira Mesa LLC, an Irvine-based investor, has acquired Rancho Del Oro Commerce Center, a 93.2k sf, multi-tenant industrial project in Oceanside, for $12.75 mil ($137/sf). The development consists of four single-story buildings located at 4055, 4059, 4061 and 4065 Oceanside Blvd, east of I-5 about midway between highways 76 and 78.

Rancho Del Oro Commerce Center is situated on an approximate 6.48-acre parcel, and features great visibility and accessibility from bustling Oceanside Blvd. Additional location highlights include its close walking distance to new retail shops and restaurants, adjacency to the new Sprinter Train Station and business route, and great access to freeways and beaches.

Mark Avilla of Cushman & Wakefield represented the buyer, who was completing the upleg of a 1031 exchange. Josh McFadyen with Colliers International repped the seller, MAJ Investors LP.

According to Avilla, the property was approximately 92% leased at the time of sale to a diverse tenancy. The well located, flexible project can accommodate most light industrial, office and some retail showroom uses, with the warehouse suites providing excellent clear height and many units featuring added office space.

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