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Thursday, Mar 28, 2024
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Escondido Industrial Building Sold For $4M

A vacant Escondido industrial building has been sold for $4 million to a Santa Clara manufacturer that will use it for its San Diego County operations.

Promex Industries bought the 20,738 square-foot building at 2063 Wineridge Place from 4S Properties/Saddleback Associates.

Promex Industries was represented by Chris Baumgart and Steven Field of JLL

4S Properties/Saddleback Associates was represented by Ted Cuthbert and Conor Boyle of Colliers International.

“This was the perfect building for an owner-user who was looking for a building in North County San Diego’s industrial market,” Baumgart said. “The buyer was in the market for several months but was unable to find the right property for their operation’s needs. It was attracted to the building’s location and accessibility to the freeway and quality of the construction.”

Built in 2000 on a 1.7 acre site, the building has 24-foot to 26-foot ceiling heights, heavy power and five grade-level loading doors.

“The North County industrial market is very tight,” Field said. “Vacancy is currently at below 3 % and there are a limited amount of properties on the market for sale. Escondido industrial commands some of the highest sales price and lease rates throughout the North County.”

Real estate reporter Ray Huard may be reached at rhuard@sdbj.com or 858-277-8904.

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