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6/05/20
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An OC-based private investor acquired a 65.3k sf industrial property in Temecula for $10.4 mil ($159/sf) in an off-market transaction. The property, located at 28410 Vincent Moraga Dr, south of Rancho California Rd and west of I-15, was sold by Stos Partners.
Stos Partners initially acquired the asset in April of 2019 for $7.1 mil, repositioning and selling the asset in approximately one year. At the time of acquisition, the building was 47% occupied by a publicly-traded, international consumer goods and farm products company in a sale-lease back transaction. During escrow, Stos Partners was able to lease the remaining 53% of the building to Habitat for Humanity.
Rob Gunnes, Anthony DeLorenzo and Matt Pourcho of CBRE represented Stos Partners in the transaction. Tucker Hohenstein and Mike Erwin of Colliers International repped the buyer.
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