CBRE Facilitates $5.1 Million Sale of Multi-Tenant Industrial Property in San Marcos

CBRE arranged the sale of an 18,607-square-foot multi-tenant industrial property located at 920 Rancheros Drive in San Marcos, Calif. The property was acquired by a private buyer who was completing a reverse 1031 exchange for $5.1 million.

CBRE’s Matt Harris, Matt Pourcho and Anthony DeLorenzo, along with Chris Nelson of Matthews, represented the seller, 920 Rancheros Property LLC, in the transaction. Weston Yahn and Dennis Visser of CBRE represented the buyer.

“This transaction underscores the strong and sustained demand for strategically located industrial assets in San Diego County,” said Harris, Vice President, CBRE. “With its stable tenant base, recent upgrades, and considerable upside in a thriving market, the property represented an excellent investment for the buyer.”

Comprised of 18,607 square feet across seven suites, the property is 100% NNN leased to long-standing tenants with staggered lease expirations.

The greater San Marcos industrial market boasts a low vacancy rate of only 3.8%, which is significantly below its five-year average of 2.45%. The low finish industrial segment within San Marcos has an even lower vacancy rate of only 1.0%.