Stos Partners of Encinitas has acquired two North County commercial properties for a total of $3.85 million, the company announced.
A company statement said Stos Partners purchased a two-tenant industrial building at 2250 Micro Place in Escondido for $2.48 million. The seller was 2250 Micro LLC of Del Mar.
The Escondido building was 50 percent leased to an electrical contracting company. During escrow, Stos Partners was able to secure a long-term lease with an undisclosed Fortune 500 company, bringing the property to full occupancy.
In the Escondido deal, the buyer and seller were represented by Tucker Hohenstein and Mike Erwin of brokerage firm Colliers International Group Inc.
Stos Partners also acquired a two-tenant retail property at 610-612 Mission Ave. in Oceanside for $1.37 million, from a private owner. The buyer plans significant upgrades to the property, including creating a contemporary space with exposed bow-truss ceilings, skylights, concrete floors and other creative elements.
Stos will market the Oceanside property as a retail and/or office space. The buyer and seller were represented by Peter Curry of Cushman & Wakefield.
Led by Principal CJ Stos, the investment company’s other recent purchases included its $12.2 million November acquisition of an industrial building in National City, which it has since leased to an undisclosed tenant.