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2/04/15
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In a recent industrial comp out of San Marcos, a 55.9k sf building sold for $6.8 mil, or $122/sf. The building is located at 700 Rancheros Dr, north of the 78 Fwy and west of Woodland Pkwy. The single-tenant, free-standing building is located on 3.5 acres and features a fenced yard, six dock high doors, four grade level doors, and is rail served.
Tucker Hohenstein and Mike Erwin of Colliers International repped the seller, Rancheros Limited. The buyer, JRD Real Estate V LLC, represented themselves in the deal. Restaurant Depot, a wholesale foodservice supplier, will occupy the space beginning Q1 2016.
“There is a shortage of large industrial spaces available in the market and strong demand from users is placing upward pressure on sale prices and lease rates,” said Hohenstein, Senior Vice President at Colliers International.
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