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2/28/20
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A joint venture between Stos Partners and Boston-based private equity firm Long Wharf Capital has acquired a 55k sf industrial asset in San Diego’s Miramar submarket in an $11 mil ($200/sf) off-market transaction. The property is located at 9431 Dowdy Dr, west of I-15 and north of Miramar Rd.
The well-maintained property is currently 100% leased to two tenants, providing secure, in-place cash flow.Current tenants include a print and sign company as well as Maketory, San Diego’s first manufacturing co-working facility, which offers a membership-based, multi-discipline manufacturing workspace that represents an innovative new business model in co-working. The property benefits from a large yard area and two separate entrances, delivering excellent accessibility for current and future tenants and their customers.
Marc Lipschitz of Compass represented Stos Partners, who currently owns 16 properties spanning 265k sf in the Miramar submarket.
“Industrial/R&D product posted 154.9k sf of positive net absorption in Q4 of 2019, topping off 128 consecutive months of overall economic growth,” says Jason Richards, a Partner at Stos Partners.
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