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9/14/18
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4S Properties – Saddleback Associates, out of Orange County, has acquired a 20.8k sf industrial building in Escondido for $3.6 mil, or $173/sf. The freestanding property is located at 2063 Wineridge Place, west of I-15 and south of Hwy 78.
::img12252:2063 Wineridge Place is situated on 1.70 acres and was originally developed in 2000 as a build-to-suit for V.I.T Products, the seller in this deal. The building offers excellent warehouse and distribution capability and is conveniently located 1.5 miles from Interstate 15.
Chris Baumgart of Cushman & Wakefield’s San Diego office represented both parties in the sale. According to Baumgart, who was also retained for leasing services by the new owner, the existing single tenant will soon be vacating the entire building, which 4S Properties – Saddleback Associates will then be repositioning bringing to market for lease.
“This was an excellent investment opportunity of a high-image industrial facility offering great warehouse space which currently comprises 91% of the building, ample loading, and great clear height and power, noted Baumgart. “The facility is well located in one of the best performing industrial submarkets in all of San Diego, as Escondido posted a vacancy of just 2.0% as of midyear 2018 per our latest market reports.”
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