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Transactions - APRIL 1, 2024

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

by RELEASED

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.

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