VISTA, Calif. (Jan. 18, 2022) — A single-tenant, manufacturing facility in Vista sold for $18.5 million on Dec. 29, 2021, Commercial Asset Advisors announced. The 75,149-square-foot industrial manufacturing building is located at 2065 Thibodo Rd. Vista, Calif. 92081.
Both the buyer, AG-LC 2065 THIBODO OWNER, L.L.C., and the seller, 10 Plus LLC, were represented by Mike Conger and Brian Jenkins of Commercial Asset Advisors and Joe Anderson of Jones Lang LaSalle. The property was co-listed and strategically marketed using JLL’s international platform and industrial expertise, while leveraging CAA’s local, private-client relationships and experience managing complex, tax-advantaged 1031 exchange transactions.
“Industrial space in San Diego continues to be one of the most desired product types,” said Mike Conger, “We are pleased we were able to structure a transaction that was truly a win-win for both parties, allowing the seller to achieve their strategic retirement goals while giving the buyer the ability to add value to the project with additional investments and repositioning.”
The team from CAA and JLL were able to capitalize on high demand for industrial space, driven by e-commerce and life science users in the San Diego region. They targeted qualified industrial buyers interested in value-add, speculative investments. The seller was able to avoid significant outlays required for re-tenanting the project, while achieving a superior return on investment and exchanging into two, long-term, single-tenant, net-leased assets backed by credit tenants.
CAA has represented multiple buyers and sellers in all product types this year all over San Diego County, demonstrating the firm’s ability to maximize values regardless of product type, location, or situation.
About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.