CBRE Arranges $8.8 Million Sale of Class A Industrial Building in Vista, Calif.

CBRE negotiated the sale of a 35,469-sq.-ft.-Class A industrial building in Vista, Calif., for $8.8 million ($250 per sq. ft.).

Matt Pourcho, Anthony DeLorenzo, Matt Harris and Casey Sterk of CBRE's Investment Properties represented the seller, Hana Roads Holdings, LLC, in the transaction.

"Owner-user demand remains robust in North County," said Mr. Pourcho. "This building was a perfect fit for a company looking to expand and was a great result for all parties."

Located at 2350 Oak Ridge Way, the building features 25,969 sq. ft. of warehouse space and 9,500 sq. ft. of office space, with 24-foot clear heights. Built in 1999, it was renovated in 2012, adding a rooftop solar system that fully powers the building.

According to CBRE research, Vista, Calif., has a 2.7% vacancy rate. The city's lower vacancy rate can be attributed to its newer and higher-quality business parks.

Dangra, Inc., purchased the building and was represented by Sam Sukut at Matthews Real Estate.