Staley Point Capital, Bain Capital JV acquire two industrial properties in San Diego

Staley Point Capital and Bain Capital Real announced the acquisitions of two industrial properties in Vista, Calif., a submarket of North County San Diego. The properties, 2325 Cousteau and 2210 Oak Ridge, were acquired for an aggregate purchase price of approximately $25 million and mark the joint venture's entrance into the San Diego market. Since forming a partnership in September 2020, Staley Point and Bain Capital have actively acquired infill industrial properties throughout the West Coast.

2325 Cousteau and 2210 Oak Ridge are adjacent class A infill warehouses spanning more than 111,500 square feet. Both properties are 100 percent leased to a long-standing global credit tenant. The properties were acquired for $220 per square foot, representing a significant discount to replacement cost. Both highly functional assets, 2325 Cousteau offers a 26-foot clear height and two dock-high positions, while 2210 Oak Ridge offers a 27-foot clear height and four dock-high positions.