Post-Purchase, Stos Plans CapEx for San Marcos Industrial
Stos Partners recently acquired a 62,000-square-foot multi-tenant industrial property in San Marcos. The property, which is currently 100 percent occupied by six tenants and facilitates a range of light industrial uses, was purchased in an off-market transaction, according to CJ Stos, principal of Stos Partners.
“This acquisition is ideally aligned with our proven strategy to purchase value-add properties located within in-demand Southern California submarkets with strong potential for upside, which we are well positioned to unlock based on our experience deep expertise in market trends,” says Stos.
Stos Partners will implement a series of capital improvements to the property, according to Jason Richards, partner at Stos Partners.
“By acquiring this asset at a competitive basis and implementing a series of strategic capital enhancements, we will be able to bring rents up to market rate, with the goal of ultimately stabilizing at above-market returns,” he says.
Stos will be implementing an improvement program that will include a new roof, parking lot, interior and exterior paint, new fencing, and upgraded landscaping, according to Jay Boyle, executive vice president at Stos Partners.
The property, which was purchased for $8.775 million, is located at 1545-1565 La Mirada Dr. Chris Roth and Rusty Williams of Lee & Associates represented Stos Partners as the buyer in this transaction.
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.
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