Stos Partners Purchases San Diego Industrial Asset

505 S. Pacific St. Image courtesy of Stos Partners

Stos Partners has purchased a 113,500-square-foot industrial and cold storage property in San Marcos, Calif., for $18.9 million. Markstein Beverage Co. sold the asset, according to public records. Kidder Mathews Senior Vice President Bob Willingham assisted the buyer. The asset last changed hands in the 2006, when the seller acquired it from Novi Real Estate Co.

Located on 10 acres at 505 S. Pacific St., the facility opened its doors in 1991. The new owner plans to execute a capital improvement plan on the building to repurpose it as a last-mile distribution center. The property features clear heights ranging from 20 to 27 feet, 58 trailer parking spaces, two grade level and 11 dock-high doors, according to Yardi Matrix data. The facility is 5 miles east of McClellan-Palomar Airport and some 37 miles north of downtown San Diego.

Last year, Stos Partners sold Brandywine Distribution Center, a 170,011-square-foot property in San Diego. A joint venture between KKR and Alpha Industrial Properties paid $24.4 million to acquire the property.