Stos Partners, a commercial real estate investment and management firm, has purchased a 113,500 square foot distribution facility located at 505 S. Pacific Street in San Marcos, California, for $18.9 million. The property was purchased from Markstein Beverage Co., a beer distributor. Kidder Mathews commercial real estate brokers, Bob Willingham, SIOR and Ronald King, SIOR, represent both parties in the transaction.
The cold storage facility is situated on 10 acres of land with ample space for storage and truck/trailer parking. Stos Partners will invest in renovations for the facility that was completed in the early 1980s and plan to repurpose it as a last-mile distribution center.
“The fact that we were able to close this transaction during such uncertain times is a testament to the quality and unique characteristics of the real estate,” said Willingham. “This type of property will continue to be in high demand for last-mile delivery and cold storage,” he said.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 22 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $9.6 billion in transactions, manages 70 million square feet of space, and conducts over 1,680 appraisals annually. For more information, visit kidder.com.