Solana Beach Firm Buys 2 North County Buildings for $12.9 MillionTuesday, February 19, 2013
Investment firm SR Commercial of Solana Beach has purchased two North County industrial buildings for a total of $12.9 million.
A company statement said the privately held firm acquired a 125,000-square-foot, Class A industrial warehouse in Vista for $10 million from Dimension One Spas. The single-tenant building, at 2611 Business Park Drive, was constructed in 2001 as a build-to-suit for Dimension One, which will remain in the property through November 2013.
SR Commercial also acquired a 32,842-square-foot, multitenant industrial building in Oceanside for $2.9 million. The building at 1935 Avenida Del Oro was 65 percent occupied at the time of purchase, with tenants including the Oceanside Police Department and a gymnastics studio.
Cushman and Wakefield represented the buyer and seller in the Vista transaction. Cassidy Turley represented SR Commercial and seller Seaside Development LLC in the Oceanside deal.
The acquisitions bring SR’s San Diego County portfolio to a total of 10 buildings. The firm acquired eight industrial properties in 2012, with plans for more investments in 2013, said company co-founder and Principal CJ Stos.
— SDBJ Staff Report