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9/26/25
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A 10k sf industrial property in San Marcos sold for $4.45 mil, or $445/sf. The property is located at 145 N. Pacific St, east of Rancho Santa Fe Rd between Hwy 78 and Mission Rd.
The sale of this building represents one of two properties sold by Stos Partners as part of the firm’s disposition of its Benchmark Portfolio, a value-add industrial real estate investment. The two-property portfolio sold for a combined $10.95 mil, approximately 20% above underwritten expectations.
Stos Partners acquired the portfolio of freestanding industrial buildings in 2020 in a joint venture with RanchHarbor for $6.1 mil, through an off-market transaction from an owner/user who completed a five-year sale-leaseback at closing. The properties, totaling 28k sf of space, feature low site coverage and excess land, rare features for facilities of this kind in San Diego, one of the nation’s tightest industrial markets. Stos Partners implemented targeted capital improvements, repositioning the assets to enhance long-term value.
Stos Partners sold the other structure, an 18k sf property at 12575 Stowe Drive in Poway in July 2025 for $6.5 mil, nearly doubling its $3.6 mil purchase price. The San Marcos property, re-leased ahead of schedule, just sold to a private buyer, as reported here.
In the transactions, Stos Partners was represented in Poway by Tim Clepper of San Diego Commercial. Matt Pourcho, Anthony DeLorenzo and Nick Williams of CBRE repped Stos Partners in the San Marcos sale, with Josh West of Voit Real Estate Services representing the buyer.
“San Diego’s limited supply of modern warehouse space, resilient tenant demand and skilled workforce make it a compelling market for both occupiers and investors,” said Jason Richards, partner at Stos Partners. “The rise of nearshoring and increased cross-border trade are creating lasting tailwinds, particularly in Otay Mesa, with positive spillover across the region.”
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