Most Recent Industrial Development in San Marcos Sells for $50 Million

A portfolio made up of two industrial projects, including a San Marcos site, has been sold to different buyers for a combined $74 million, a real estate firm announced.

The four-building Class A industrial project, totaling 221,294 square feet, was 100% leased at the time of sale. Built in 2018, the site, at 195 Bosstick Blvd. and 2946-54 Norman Strasse Road, sold to Investcorp for $50 million.

The other project, in Temecula, includes two industrial buildings located at 26201 Ynez Road and 42259 Rio Nedo Road. The assets sold to Cire Equity in San Diego for $24.04 million.

Cushman & Wakefield’s Aric Starck, Jeffrey Cole, and Drew Dodds in San Diego represented the unnamed seller in the transactions.

“This portfolio provided a great opportunity for the two separate buyers to acquire a critical mass of institutional quality industrial real estate in San Diego’s desired North County and the city of Temecula in the South Riverside market,” said Starck, an executive vice chair at Cushman.

The Temecula deal closed in May, and the San Marcos transaction in January. Dodds, a senior associate said “the San Marcos assets provide a best-in-class industrial for tenants.”

“These buildings represent the most recent industrial development in San Marcos and only major industrial development over the previous 10 years,” he added.