REBusinessOnline

Stos Partners Buys R&D/Office Property in California for $3.8M

5816-Dryden-Pl-Carlsbad-CA

Located at 5816 Dryden Place in Carlsbad, Calif., the property features 22,156 square feet of R&D/office space.

CARLSBAD, CALIF. — San Diego-based Stos Partners has purchased a two-tenant R&D/office property located at 5816 Dryden Place in Carlsbad. A private entity sold the asset for $3.8 million.

Stos Partners negotiated a sale-leaseback through which the seller will remain a long-term tenant, occupying 79 percent of the 22,156-square-foot building. The buyer plans to implement cosmetic improvements and building upgrades that include a new roof, exterior and interior paint, revived drought-tolerant landscaping, parking lot upgrades and speculative creative office interior improvements.

This transaction brings Stos Partners’ year-to-date acquisition volume in 2019 to 402,500 square feet totaling more than $55.5 million throughout Southern California.

Adam Foster of Foster Commercial Real Estate represented Stos in the acquisition.

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