San Diego, CA (PRWEB) March 05, 2012
SR Commercial, a full-service commercial real estate investment and management firm headquartered in Cardiff by the Sea, has purchased a 39,672 square foot vacant freestanding industrial building located at 2390 Oak Ridge Way in Vista, CA. This acquisition is in line with SR Commercial’s business plan to acquire distressed, yet well-positioned industrial and retail properties throughout Southern California. With this recent addition, SR Commercial now owns and/or is contracted as a third-party manager for over 3.5 million square feet of commercial property throughout Southern California.
“This recent acquisition coincides with our long-term business plans and goals for growth of the company,” said CJ Stos, Principal, SR Commercial. “We are aggressively seeking additional opportunities to acquire similar type properties and are in a position to close quickly due to our well funded capital resources., Built in 2000, the acquired Vista building is now being upgraded and renovated by SR Commercial. Upgrades which are underway include removing walls to create a more functional warehouse to office ratio and layout, substantial landscape upgrades, replacing a number of windows, slurry coating the parking area and painting the exterior and interior of the building. The firm plans to lease the building as a corporate headquarters and has already received multiple offers to lease this space.
“We were delighted to work with SR Commercial once again,” said Brent Bohlken of Grubb & Ellis, who sold SR Commercial the property, a second sale to the company in the last six months. “We enjoy working with SR Commercial because they work with integrity and thoroughly follow through with every agreement that is made during the purchasing process.”
In addition to the Vista acquisition, SR Commercial has acquired a contract to manage a 45,000 square foot multi-tenant industrial building located at 1780, 1784 and 1788 La Costa Meadows Drive in San Marcos, CA.
About SR Commercial
SR Commercial is a privately held, full-service commercial real estate investment and management firm serving Southern California. SR Commercial specializes in the acquisition, development and management of income-producing industrial, office and retail properties in San Diego, Orange and Los Angeles Counties. We are seeking investment opportunities in class "A" located industrial and retail properties in coastal and urban areas of Southern California in the $1mm to $50 mm price range. SR Commercial is headquartered in Cardiff by the Sea with a satellite office in Orange County. For more information - http://www.sr-commercial.com.