RPG based in Encinitas in partnership with CenterSquare based in Pennsylvania has acquired a Vista industrial building for an undisclosed price with plans to renovate it.
Built in 1999, the vacant 203,000 square-foot building at 1 Viper Way was sold by Stockbridge Capital Group of San Francisco.
Aric Starck and Bill Cavanagh with Cushman & Wakefield represented Stockbridge.
Planned improvements include adding nine new dock-high doors along with five new grade level doors. The JV partnership also plans to reduce the amount of office and mezzanine space to appeal to last-mile industrial users.
This acquisition is perfectly aligned with our niche approach to identifying, sourcing, repositioning, and developing exceptionally well-located, high-quality assets in the San Diego market, especially in North San Diego,” said Adam Robinson, founder and president of RPG.