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9/18/23
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A 61.1k sf industrial complex in San Marcos was purchased by a private investor in a $12.5 mil ($205/sf) transaction. The asset sits on 3.29 acres at 1545-1565 La Mirada Drive in San Diego’s North County.
The property was sold by Stos Partners, who acquired it in May 2021 for $8.77 mil. Upon acquisition, the company implemented a value-add strategy and capital improvement program, which included a new roof, parking lot, exterior painting, drought resistant landscaping and signage.
The asset is ideally located near the 78 Fwy, providing convenient access to neighboring communities. It is also less than one mile from North County San Diego’s largest development, North City, which consists of 200 acres of mixed-use commercial space. The building features include 21 grade-level roll-up doors, secured outdoor storage areas, multiple ingress/egress points, and minimal first floor office space.
Matt Pourcho, Anthony Delorenzo, and Matt Harris with CBRE along with Chris Roth, Rusty Williams, and Jake Rubendall of Lee & Associates, represented Stos Partners in the deal. Brant Aberg and Bryce Aberg with Cushman & Wakefield repped the buyer.
“The North County San Diego industrial market is comprised of 54 msf with strong vacancy of 2.2%,” said Jason Richards, Partner at Stos Partners. “In 2022, we saw over 2.2 msf of leasing activity in the market.”
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