A headquarters and manufacturing plant in Poway have been sold for $13.9 million, a commercial real estate investment and management firm Encinitas said.
The 37,530 square foot space, at 13955 Stowe Drive, was acquired by Stos Partners last year. James Dunkin and Vickie Barrera of Kidder Mathews represented the company as a vendor. Rusty Williams and Chris Roth of Lee & Associates represented the private buyer.
“We knew the attributes of this property would appeal to buyers looking to enter the Poway market. In fact, in (Q3), this particular submarket had a record vacancy rate of 0.4%, far exceeding San Diego’s overall rate,” said Stos Director Jason Richards.
Improvements made by the Stos team to the property include a new roof, HVAC system, interior renovations, and parking and landscape improvements.
Built in 1999 and renovated earlier this year, the property is leased to Automation NTH, a manufacturing systems company. Site amenities include two dock-height loading doors and two ground-level loading doors, a 24-foot high warehouse ceiling and a parking lot with 88 parking spaces.
“This asset is perfect for the needs of the current tenant, and the amenities make it a well-balanced space to meet the requirements of any future tenant specializing in biotechnology, manufacturing and industrial uses,” said Travis Gorzeman, Vice President of asset management at Stos. The partners. “The new owner will be able to capitalize on the accelerating market demand for prime industrial space for years to come.”