MCA Realty Enters San Diego Industrial Market
- Dec 10, 2018
MCA Realty has expanded its Southern California presence with the acquisition of a 40,990-square-foot, multi-tenant industrial asset in Escondido. The firm acquired the two-building property for $5.9 million from a private investor. Colliers International assisted the buyer in the deal.
Located at 2750 Auto Park Way in the North San Diego submarket, the facility has strong street visibility with 300 feet of frontage on West Mission Road and 750 feet of frontage along Auto Park Way. The property includes thirteen suites, two of which are vacant. Besides revamping the unoccupied space, MCA Realty also plans to do some exterior upgrades and increase identity signage.
“We have been extremely active in multiple geographies throughout the Western region over the last several years. … Industrial users throughout the region continue to expand in markets such as Escondido, Carlsbad, San Marcos, Oceanside and Vista. This will drive long-term demand for properties and drive rent growth over the next several years,” said MCA Realty Principal Tyler Mattox in a prepared statement.
Tucker Hohenstein and Conor Boyle were part of the Colliers team that represented MCA Realty in the deal that marks the buyer’s entrance in the San Diego market. Industrial vacancy in San Diego overall has hovered around five percent since 2015, which has manifested through consistent rent growth.
Image courtesy of Lance Emerson Photography Inc.