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2/09/17
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A 10.3k sf, multi-tenant office and warehouse property in Poway sold for $1.98 mil ($192/sf). The property is located at 12340 Stowe Dr, east of I-15 between Poway Rd and Scripps Poway Pkwy, within the Poway Industrial Park.
The buyer was Mascot Factory, a San Diego-based manufacturer of personalized plush animals. The property was the current tenant of the property at the time of sale.
Marc Posthumus, Ted Cuthbert, and Chris Williams of Colliers International San Diego Region represented the San Diego-based seller, the Wolfert Family Trust.
“Industrial properties in the Poway area have exceeded peak market pricing reached in 2006,” noted Marc Posthumus, Vice President with Colliers International San Diego Region. At $192 per square foot, the sale of 12340 Stowe Drive achieved a record-setting price in the Poway Industrial Park for an industrial building of this size,” said Marc Posthumus, Vice President at Colliers International San Diego Region.
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