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STOS Partners sells Carlsbad industrial building for $5.2M

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22,156-Square-Foot Industrial Property in Carlsbad

Stos Partners sold a 22,156-square-foot industrial property in Carlsbad to a private 1031 exchange buyer for $5.24 million, CBRE Group, Inc. announced Monday.

CBRE's Matt Pourcho, Matt Harris, Anthony DeLorenzo and Gary Stache, along with leasing expert Hank Jenkins of Colliers International, represented Stos Partners in the transaction.

"The asset obtained multiple offers, reflecting continued investor interest in quality industrial assets," Pourcho said in a statement. "With compelling property fundamentals, this property provides new ownership with significant future upside and secure cashflow."

The property at 5816 Dryden Place was 100 percent leased at the time of the sale and anchored by San Diego Legion Rugby (SDLR). The organization uses the building for its corporate headquarters and state-of-the-art training facility.

The building, which sold for $237 per square foot, is less than three miles from Intertate 5.

Industrial market fundamentals in San Diego have soared since the small setback in the second quarter of 2020, following the onset of the pandemic.

Total net absorption for the quarter was 1.3 million square feet, largely due to several large deals in North County, according to a CBRE research report.


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Hank Jenkins

Senior Associate

Carlsbad

Hank Jenkins graduated from the University of San Diego and received his Bachelors in Economics in 2014. He now specializes in North County Office, Medical Office and Industrial Landlord and Tenant Representation. Hank has completed transactions in various markets in San Diego including Encinitas, Carlsbad, San Marcos, Vista, Sorrento Valley/Mesa and Escondido. He is an active member of the Carlsbad Chamber of Commerce and NAIOP.

Hank is a driven researcher and loves to tour North San Diego County in search of new and exciting business prospects. Hank does not wait for the business to come to him, he actively seeks to make connections all over North County and to address the needs of the business people he meets along the way. Through his efforts, and through maintaining various market studies and executing door-to-door marketing campaigns, Hank has built a successful career in Tenant Representation, and has been able to service private owners fill vacancies within their buildings.

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