Simi Valley Property
Photo courtesy of Stos Partners

Simi Valley Property Photo courtesy of Stos Partners

 

Stos Partners based in Encinitas has acquired a Simi Valley industrial building for $20 million.

The property at 2320-2380 Shasta Way is 94% leased to a diverse base of several long-term tenants, according to Jason Richards, a partner at Stos Partners.

Dan Cherrie with CBRE represented Stos Partners.

“We will immediately implement capital improvements including mechanical system upgrades, parking lot repaving, and fresh paint on both the exteriors and interiors, in order to better accommodate its current uses as well as attract new tenants and unlock new value potential,” said Tanner Jansen, Vice President of Acquisitions at Stos Partners.