A private investor has acquired an industrial facility in Vista, California, for a record $217 per square foot in the market. The single-tenant, freestanding building totals 10,940 square feet and sold for $2.4 million.
The North County industrial market has a sub 3% vacancy rate, and the property is currently occupied by Arrow Pipeline, which signed a five-year lease.
JLL North San Diego County team of Chris Baumgart and Steven Field represented the seller, 4S Properties / Saddleback Associates. Rusty William and Chris Roth of Lee & Associates represented the buyer.
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