Staley Point, Bain Capital Make Third San Diego Industrial Buy

(Updated with additional information)

Staley Point Capital and Bain Capital Real Estate have acquired a 78,000-square-foot industrial asset in Poway for approximately $20 million. The purchase represents Staley Point and Bain Capital’s third acquisition in the San Diego market as their joint venture continues to actively acquire infill industrial properties across the West Coast.

Located at 13450 Stowe Dr. in Poway, the property is currently 100% leased to a longstanding global credit tenant and was acquired at $251 per square foot, a significant discount to physical replacement cost.

“The closing of this transaction is a continuation of our infill industrial strategy focused on quality assets in dense, supply constrained markets,” said Eric Staley, managing partner of Staley Point. “The asset is leased to an investment grade tenant in a high demand submarket with significant defense, healthcare and nearshoring activity.”

Colliers’ Andrey Mindirgasov, Chris Smith and Nadav Kariv represented the buyers, while Colliers’ Tucker Hohenstein, Hank Jenkins and Mike Erwin represented the undisclosed seller. The acquisition of 13450 Stowe Dr. follows Staley Point and Bain Capital’s acquisition of two industrial properties located in Vista this past April.