La Costa Meadows 8 biens | San Marcos, CA

Cushman & Wakefield, as exclusive advisor, is pleased to present an excellent opportunity to acquire La Costa Meadows Business Center (“The Property”), an eight-building 158,923 SF warehouse project in San Marcos, CA. Strategically located in the southwest corner of San Marcos, the Property features grade-level loading, flexible size options and excellent access to all of North County San Diego.
The Property is 91% leased to approximately 49 tenants, delivering solid, in-place cash flow from a diverse rent roll. With in-place leases approximately 10% below market, there is a substantial upside opportunity to significantly increase NOI in the near term as 24% of the Property rolls to market within the first year and 47% rolls within the first two years. The near-term mark-to-market provides investors a great opportunity to considerably increase NOI and realize value in the first two years of ownership.
The market has experienced a high volume of industrial conversions to R&D product, making La Costa Meadows Business Center highly coveted and increasingly scarce. Exceptionally tight market fundamentals make this a rare opportunity, as there are very few competing properties available, limited development sites remaining in North San Diego County, and no new multi-tenant business park construction underway or proposed in all of San Diego County