MCA Realty Renovates, Sells Multi-Tenant Industrial Asset in North San Diego County for $8.2M


Pinnacle Business Park in Escondido, Calif., offers 40,968 square feet of industrial space across 13 suites.

ESCONDIDO, CALIF. — MCA Realty has completed the disposition of Pinnacle Business Park, a two-building industrial property located at 2750 Auto Park Way in Escondido. San Diego-based Providence Capital Group acquired the asset for $8.2 million.

MCA Realty purchased the 40,968-square-foot property in November 2018 for $5.9 million and completed interior and exterior renovations to increase the income profile of the asset. When originally acquired, the 13-suite project was 80 percent occupied with in-place rents approximately 25 percent below market rates. The renovation program enabled MCA to increase in-place rents to market value and lease-up vacant space.

Tucker Hohenstein, Michael Kendall and Connor Boyle of Colliers International represented the seller, while Evan McDonald, also of Colliers, represented the buyer in the deal.

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

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties