June 5, 2020
Stos Partners sold a 65,300-square-foot industrial asset in Temecula for $10.4 million to an unnamed Orange County-based private investor in an off-market transaction. Stos Partners initially acquired the asset in April of 2019, repositioning and selling the asset roughly a year later.
Stos Partners’ Jay Boyle says, “We initially acquired the asset for $7.1 million, quickly implementing a series of upgrades and improvements to the property. This allowed us to quickly lease up the property, bringing it to full occupancy with long-term leases in-place within the first month of ownership.”
The property is located at 28410 Vincent Moraga Dr. in Temecula, CA. CBRE’s Rob Gunnes, Anthony DeLorenzo and Matt Pourcho represented the seller. Colliers International’s Tucker Hohenstein and Mike Erwin advised the buyer.
Stos Partners has closed nearly $100 million in transactions since January of this year, including three deals that were completed within the last six weeks.
For comments, questions or concerns, please contact Dennis Kaiser