Rancho Del Oro Commerce Center Sells For $12.8M In Off-Market Transaction
Courtyard Mira Mesa has acquired Rancho Del Oro Commerce Center in Oceanside for $12.75M. The multi-tenant industrial project totals 93,160 SF and consists of four single-story buildings at 4055, 4059, 4061 and 4065 Oceanside Blvd.
The seller was MAJ Investors in a transaction that represented the upleg of the buyer’s 1031 exchange. Mark Avilla, senior director of Cushman & Wakefield’s San Diego office, represented the buyer, with Colliers International's Josh McFadyen representing the seller.
“The buyer was in an exchange after Cushman & Wakefield represented them in selling an office building in Sorrento Valley, and we were able to identify this great off-market opportunity in North County that was a perfect fit for their office and industrial portfolio,” Avilla said in a statement. “Approximately 92% [of the center was] leased at the time of sale to a diverse tenancy. This is a well located, flexible project that can accommodate most light industrial, office and some retail showroom uses, with the warehouse suites providing excellent clear height and many units featuring added office space.”
Rancho Del Oro Commerce Center is on 6.48 acres and features visibility and accessibility from Oceanside Boulevard. It is also near new retail shops and restaurants and adjacent to the new Sprinter train station.