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North San Diego Industrial Building Sold for $6.2M in 1031 Exchange
Vista Pointe Plaza, a fully-leased 36,962-square-foot industrial property situated on 4.76 acres in Vista, CA has traded for $6.2 million. The multi-tenant building is located at 2420 Grand Ave. in northern San Diego, and was acquired by an unnamed Orange County-based private equity investor.
The property was the buyer’s upleg of a 1031 Exchange. The seller was American Properties I, LLC. The asset offers the buyer secure in-place cash flow at varying lease expirations, in a market that provides upside in rent achievement.
Cushman & Wakefield’s Mark Avilla, Peter Curry, Rick Reeder and Brad Tecca represented both parties.
Avilla says, “Vista Pointe Plaza is a highly desirable, institutional quality multitenant industrial property that provided the rare opportunity to acquire a true, incubator multi-tenant industrial project.”
The property was developed in 1989, and fully renovated in 2008, to accommodate the expanding base of small industrial tenants located throughout North San Diego County.
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- ◦Sale/Acquisition


