REBusinessOnline

Stos Partners, Long Wharf Capital Buy Two Industrial Assets in Southern California for $13.9M

8330-Arjons-Dr-Miramar-CA

The buyers plan to renovate the vacant 27,510-square-foot industrial property located at 8330 Arjons Drive in Miramar, Calif.

CARLSBAD AND MIRAMAR, CALIF. — A joint venture between Stos Partners and Boston-based Long Wharf Capital has purchased two industrial assets in Southern California for a total consideration of $13.9 million.

In the first transaction, the joint venture acquired a 70,224-square-foot property, located at 6212 Corte Del Abeto in Carlsbad, from a private seller for $9.7 million in an off-market transaction. The building is fully occupied by a go-kart racing tenant. The asset features a mix of office and warehouse space, as well as grade- and dock-high loading positions. Rusty Williams and Chris Roth of Lee & Associates, along with Tres Reid of CBRE, represented the buyers in the transaction.

In the second deal, the partnership purchased a vacant 27,510-square-foot industrial building, located at 8330 Arjons Drive in Miramar, from a private investor for $4.2 million. The new owners plan to upgrade the property with a new roof, new façade, parking lot improvements, updated landscape plan and interior renovations. Jason Smithson of NAI represented the seller in the transaction.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Conferences