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4/24/24
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In an industrial sales comp out of Vista, Dangra Inc purchased a 35.5k sf, Class A property for $8.8 mil ($250/sf). The property was sold by Hana Roads Holdings LLC.
Located at 2350 Oak Ridge Way, the building features 26k sf of warehouse space and 9.5k sf of office space, with 24-foot clear heights. Built in 1999, it was renovated in 2012, adding a rooftop solar system that fully powers the building.
Matt Pourcho, Anthony DeLorenzo, Matt Harris and Casey Sterk of CBRE's Investment Properties represented the seller in the transaction. Sam Sukut at Matthews Real Estate repped the buyer in the deal. According to CBRE research, Vista, CA has a low 2.7% vacancy rate, which can be attributed, in part, to the city's newer and higher-quality business parks.
"Owner-user demand remains robust in North County," said Pourcho. "This building was a perfect fit for a company looking to expand and was a great result for all parties."
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