December 11, 2018
Orange County-based MCA Realty acquired a 40,990-square-foot multi-tenant industrial asset in Escondido, CA for $5.9 million. The property, at 2750 Auto Park Way, consists of two buildings with a total of 13 suites, two of which are vacant.
MCA Realty plans to renovate the existing vacant space, as well as update individual suites as leases roll. The new owner has also planned some exterior aesthetic upgrades and increased identity signage. The property has strong street visibility, with 300 feet of frontage on W. Mission Road and 750 feet of frontage along Auto Park Way.
MCA Realty’s Tyler Mattox says, “The rents at the property are currently well-below today’s market, which provides us with strong upside potential. Improving and updating the buildings will enable us to quickly lease vacant space and bring remaining rents up to market.”
Colliers International Group Inc.’s Tucker Hohenstein and Conor Boyle represented the buyer. The seller, an undisclosed private investor, was self-represented.
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