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December 5, 2023
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Stos Partners Collects $5.24 Mil for Renovated Industrial Property in Carlsbad


A 1031 exchange investor has purchased an industrial property in Carlsbad for $5.24 mil, or $237 per square foot. Located at 5816 Dryden Place, the 22.2k sf property was 100% leased at the time of the sale. It is less than three miles from I-5, connecting the area to the rest of San Diego County.

The asset was sold by Stos Partners, who acquired the building for $3.78 mil in September 2019 in a sale-leaseback transaction. Stos Partners was able to complete renovations and bring the property to full occupancy within just 18 months.

The property is anchored by San Diego Legion Rugby, the previous seller, who uses 85% of the building for its corporate headquarters and state-of-the-art training facility. Stos Partners secured a national credit tenant, Sierra Wireless, to occupy the remaining 4.7k sf of ground-floor office space

CBRE’s Matt Pourcho, Matt Harris, Anthony DeLorenzo and Gary Stache, along with Hank Jenkins of Colliers International, represented Encinitas-based Stos Partners in the transaction. Fred Aframian of CBRE repped the buyer, Fred Rosenthal of Fredmore LLC.

“The asset obtained multiple offers, reflecting continued investor interest in quality industrial assets,” said Pourcho. “With compelling property fundamentals, this property provides new ownership with significant future upside and secure cashflow.”

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