VISTA, CALIF. — A joint venture between RPG and CenterSquare has purchased an industrial property located at 1 Viper Way in Vista. San Francisco-based Stockbridge sold the asset for an undisclosed price.
The buyers plan to implement a comprehensive repositioning plan to modernize the 203,000-square-foot property to appeal to industrial tenants throughout the region. Planned improvements include the addition of nine dock-high doors and five grade-level doors, as well as a reduction of office and mezzanine space, to appeal to last-mile industrial users.
The property features 28-foot clear heights, heavy power and dock loading options. At the time of purchase, the property was vacant, having previously served as headquarters for an automotive technology company for 20 years.
Aric Starck and Bill Cavanagh of Cushman & Wakefield represented the seller in the transaction.