Stos Partners has acquired an 113,500-square-foot industrial and cold-storage asset in the San Marcos submarket of San Diego, Calif., in an off-market transaction. The property was acquired from a private investor for $18.9 million.
“This was a rare opportunity to acquire an institutional-quality industrial and cold-storage property with strong value potential in a logistics epicenter for Southern California,” said CJ Stos, principal of Stos Partners. “San Marcos is strategically positioned with easy access to north and south San Diego, as well as the rest of the Inland Empire.”
Stos Partners will implement a series of renovations and capital improvements to the property, which is currently vacant, to strategically position the asset to attract a variety of last-mile distribution tenants.
“Over the last several years, there has been a rapid increase in the need for last-mile distribution facilities near urban centers in order to increase delivery times
