An Orange County real estate investment firm has acquired two Escondido industrial buildings for $5.9 million as its entry into the San Diego County market.
MCA Realty based in Irvine bought the buildings at 2750 Auto Park Way from an undisclosed seller.
Combined, the two buildings are 40,990 square feet with13 suites, two of which are vacant.
MCA Realty said it would renovate the vacant spaces and others as leases roll over.
“We have been extremely active in multiple geographies throughout the western region over the last several years and are now expanding our portfolio into San Diego with this acquisition and are looking to acquire more assets in the region over time,” said MCA Realty Principal Tyler Mattox.
“North County in particular has quickly emerged as one of San Diego’s tightest industrial submarkets. Industrial vacancy in San Diego overall has remained below 5 percent since 2015,” Mattox said. “Industrial users throughout the region continue to expand in markets such as Escondido, Carlsbad, San Marcos, Oceanside and Vista. This will drive demand for properties and drive rent growth over the next several years.”
Tucker Hohenstein and Conor Boyle with Colliers International represented MCA Realty. The seller represented itself.