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.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
