CBRE Arranges $24.5 Million Sale of Two-Building Industrial Property in Vista

CBRE facilitated the sale of 2210 Oak Ridge Way and 2325 Cousteau Court, two fully leased industrial buildings in Vista, Calif., for $24.5 million to a Los Angeles-based buyer. CBRE Investment Properties’ Matt Pourcho, Anthony DeLorenzo and Matt Harris as well as CBRE’s Dennis Visser and Weston Yahn represented the seller, Oak Ridge Vista LLC, in the transaction.

"The San Diego industrial market remains robust, and buyers outside San Diego continue to look for ways to enter it," said Mr. Pourcho, executive vice president at CBRE. "We had tremendous activity on this property and ultimately selected a credible buyer who performed flawlessly. This is our seventh sale in the past six months in the North County submarket, and more are coming."

The two-building industrial property is on 6.39 acres. The Class A industrial buildings are fully leased to Solatube International, a global leader in designing and manufacturing daylighting systems and ventilation products.

The first building, situated at 2210 Oak Ridge Way, spans an impressive 58,079 sq. ft. It boasts a 27-foot clear height, four dock-high doors, and three grade-level doors, making it a highly functional space for industrial operations.

Located at 2325 Cousteau Court, the second building is 53,421 sq. ft. and features a 26-foot clear height, two dock-high and three grade-level doors.

Both properties have had new roofs installed within the last two years, and a solar system is currently being installed on each building's roof.

According to CBRE Research, freestanding single-tenant industrial buildings are in high demand, which is evident by the current 2.8% vacancy rate for 35,000 to 65,000 sq. ft. and Vista's manufacturing vacancy rate of 1.4%.

Atlantic SPC Acquisitions Holdings III LLC was self-represented, with no outside brokers involved.