California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
JLL Arranges $21M in Financing for Escondido Industrial Building
JLL Capital Markets has represented a JV between Stos Partners and a private investor in securing $21.6 million in acquisition financing and joint venture equity for 2425 Auto Park Way, an 89,000-square-foot distribution facility in Escondido, CA. JLL’s Aldon Cole and Brad Vansant secured the short-term, floating-rate loan through an insurance company.
The facility is fully-leased by audio solutions company Sound Image and HVAC manufacturing company Goodman and features 20’ to 22’ clear heights, dock and grade-level loading doors, 200 parking spaces and 10,000 square feet of office space. The nearly 7-acre location on Auto Park Way benefits from its proximity to interstate 5 and Highway 78.
“Amidst economic turbulence, we continue to see capital attracted to quality real estate in strong, performing markets like San Diego,” said Vansant in a news release.
- ◦Financing
