LPC West, Cerberus Capital Buy 30-Acre Industrial Development Site in Oceanside, California
OCEANSIDE, CALIF. — LPC West, in partnership with an affiliate of Cerberus Capital Management, has acquired a nearly 30-acre development site in Oceanside. Terms of the acquisition were not released.
The partnership plans to develop a modern industrial campus on the site, which is located within Ocean Ranch, a 400-acre office and industrial development.
“Together with Cerberus, we plan to build highly efficient industrial buildings that will meet the needs of tenants looking for quality industrial space in the San Diego region,” says Scott Moffatt, senior vice president of LPC West’s San Diego office.
Ocean Ranch is situated near the Interstate 5 Freeway between Highways 76 and 78, offering easy access to many Southern California regions, including Los Angeles, Riverside, Orange County and San Diego.
“With Oceanside’s strategic location, the area has become an attractive region in Southern California for leading companies,” says Tom Wagner, head of North American Real Estate at Cerberus. “This is a great opportunity to develop a best-in-class industrial campus in Oceanside.”
LPC West currently owns and manages nearly 1.5 million square feet of commercial property in the San Diego region with an additional 450,000 square feet currently under development.