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10/14/20
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A 27.5k sf industrial asset in Miramar has traded hands in a recent $7.525 mil ($274/sf) transaction. The property is located at 8330 Arjons Dr, west of I-15 and just north of Miramar Rd.
The asset was sold by Stos Partners, who acquired the property vacant for $4.2 mil in July 2019 in a joint venture with Boston-based private equity firm Long Wharf Capital. The partnership then implemented strategic upgrades to the property, including new landscape, a new parking lot, new roof, exterior building paint and office interior improvements. They were able to reposition, lease up and sell the property at a profit within a relatively short timeframe.
Bryce Aberg, Brant Aberg and Brooks Campbell of Cushman and Wakefield represented Stos Partners as the seller in the transaction. Stos Partners continues to be bullish on industrial, and is actively seeking additional acquisition opportunities in Southern California and other select markets.
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