CapRock Partners based in Newport Beach has acquired two San Diego County industrial buildings – one in Vista and one in San Diego.
Combined, the buildings total nearly 250,000 square feet.
They are an 88,334 square-foot building at 10054 Old Grove Road in the San Diego community of Scripps Ranch and a 158,784 square-foot building at 1395 Park Center Drive in Vista.
“We’re bullish on the San Diego industrial market, as we believe the sector is poised for continued low vacancies and sustained economic development,” said Bob O’Neill, senior vice president for acquisitions of CapRock Partners.
CapRock declined to name the sellers in either transaction.
The company is renovating the Old Grove Road building by redesigning the main entrance, enhancing landscaping, and overhauling office space.
Matt Pourcho, Gary Stache, and Anthony DeLorenzo of CBRE’s Capital Markets Group represented CapRock in the Old Grove Road transaction.
Tucker Hohenstein and Mike Erwin of Collier’s International represented CapRock in the Park Center Drive transaction.
The Park Center Drive seller was represented by Hammon Co.
CBRE represented the seller of the Scripps Ranch building.