Cushman & Wakefield announced the firm arranged the sale of two industrial projects spanning six buildings and 387,454 square feet in the cities of San Marcos and, Calif., in San Diego and Riverside counties of Southern California. The properties were recently sold separately between January and May to two separate buyers for a combined total of $74 million.
The portfolio consisted of a four-building, class-A industrial project totaling 221,294 square feet in San Marcos that was 100 percent leased at the time of sale. Known as Pro•duc•tion, the project was built in 2018 and is located at 195 Bosstick Blvd and 2946, 2950 and 2954 Norman Strasse Road, and sold to Investcorp for $50 million. The sale closed in January.
The second and most recent project sale comprised two industrial buildings located at 26201 Ynez Road and 42259 Rio Nedo Road in Temecula. The assets sold to Cire Equity in May for $24 million.
“This portfolio provided a great opportunity f
