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California  + Los Angeles  + Industrial  | 
Shasta Acquisition

Industrial Buy Presents Opportunity to Bring Rents up to Market

Stos Partners recently acquired an approximately 125,000-square-foot multi-tenant industrial property in the Ventura County submarket of Simi Valley from a private seller for $20 million. The property is 94 percent leased to a diverse base of several long-term tenants, notes Jason Richards, partner at Stos Partners.

“We were drawn to this property based on strong and secure in-place cash flow and potential for tremendous upside,” says Richards. “The asset is in an exceptional Ventura County location that offers close proximity to the San Fernando Valley and downtown Los Angeles, further driving its appeal to quality tenants.”

The asset presents the opportunity to bring rents up to market through Stos Partners’ value-add business plan, according to Tanner Jansen, vice president of acquisitions at Stos Partners,

“We will immediately implement capital improvements including mechanical system upgrades, parking lot repaving, and fresh paint on both the exteriors and interiors in order to better accommodate its current uses as well as attract new tenants and unlock new value potential,” Jansen explains.

The property is located at 2320-2380 Shasta Way. Dan Cherrie with CBRE represented Stos Partners as the buyer.

“Drawing upon deep experience in industrial markets throughout Southern California, we are continuously monitoring for opportunities to acquire properties best situated for growth,” says CJ Stos, principal at Stos Partners.

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Jason Richards

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition
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