SAN DIEGO, Calif. – September 12, 2018 – Orange County-based 4S Properties – Saddleback Associates has acquired a 20,783-square foot (sf) industrial building in Escondido (San Diego), California for $3.6 million. The freestanding property is located at 2063 Wineridge Place and was sold by VIT Properties, LLC. Chris Baumgart of Cushman & Wakefield’s San Diego office represented both parties in the sale.
Mr. Baumgart said, “This was an excellent investment opportunity of a high image industrial facility offering great warehouse space which currently comprises 91% of the building, ample loading, and great clear height and power. The facility is well located in one of the best performing industrial submarkets in all of San Diego, as Escondido posted a vacancy of just 2.0% as of midyear 2018 per our latest market reports.”
2063 Wineridge Place is situated on 1.70 acres and was originally developed in 2000 as a build-to-suit for V.I.T Products. The building offers excellent warehouse and distribution capability and is conveniently located 1.5 miles from Interstate 15 and Highway 78.
Mr. Baumgart, who was also retained for leasing services by the new owner, added, “The existing single tenant will soon be vacating the entire building, in which 4S Properties – Saddleback Associates will then be repositioning the property and bringing it to market for lease.”
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