April 29, 2020
San Diego-based Stos Partners acquired a 228,912 square-foot industrial asset in Temecula for $28.9 million. Lee & Associates’ Alisa Lovas represented the seller, an unnamed private investor. Lee & Associates’ Scott Stewart advised the buyer in the off-market transaction.
Stos Partners’ CJ Stos says, “This was an opportunity to acquire a well-located, off-market, institutional-quality asset in a submarket that is positioned for long-term growth.”
The asset at 42301 Zevo Dr. is 100% occupied. A global, publicly-traded healthcare leader is housed in the majority of the building and plans to utilize the facility as part of its distribution network for quick COVID-19 tests.
Stos Partners’ Jason Richards adds, “The healthcare industry is one that is rarely impacted by market fluctuations, as there is always demand for healthcare services and products, especially now. An existing long-term lease strategically positions the asset for stable in-place cash flow and upside potential over the next several years.”
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