OCEANSIDE, CALIF. — The Cohen Group has just sold a 13,248-square-foot freestanding multi-tenant industrial building located at 2600 Temple Heights Drive in Oceanside, CA for $5 million. The property was originally purchased for $2.9 million, representing a significant value increase following strategic improvements and lease stabilization. The Project traded at around a 3% capitalization Rate
This was a leased investment sale to a 1031 exchange buyer. The Cohen Group executed a full repositioning of the asset, including a major refurbishment of both the exterior and interior, which increased tenant appeal and overall market value.
Special thanks to Ross Fitzpatrick of CBRE, who represented the Buyer in this transaction.