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San Diego County Water Authority Acquires Industrial Building In Escondido From RPG For $38.76M

Property Image
SOLD
$38,760,000
Aric Starck
Drew Dodds

California

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Industrial88,552 SF
Sold 11/20/2024
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Property Image
SOLD

San Diego County Water Authority Acquires Industrial Building In Escondido From RPG For $38.76M

1960 Citracado Parkway

See Similar Deals
Industrial88,552 SF
Sold 11/20/2024
Aric Starck
Drew Dodds
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$437
Total Square Footage:88,552 SF
Transaction Type:Sale

The transaction involved the sale of an industrial asset located at 1960 Citracado Parkway in Escondido, CA. The property encompasses 9.5 acres and features a total square footage of 88,552. The asset was sold for $38,760,000, translating to a price per square foot of $438. This property is part of RPG’s Escondido Logistics Center and marks the first speculative industrial project in Escondido in the past five years.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $38,760,000
  • Address: 1960 Citracado Parkway
  • Market: Escondido
  • Acres: 9.5
  • Square Footage: 88,552
  • Price per Square Foot: $438
  • Buyer: San Diego County Water Authority
  • Seller: RPG
  • Brokers: Aric Starck & Drew Dodds - Cushman & Wakefield

Cushman & Wakefield represented RPG in brokering the forward sale to the San Diego County Water Authority. The transaction represents a significant move in the industrial market as RPG prepares for a second building set to be completed in early 2025.

Players

Aric Starck
Cushman & Wakefield
Aric Starck
16 deals$765.4M volume
BROKER
Drew Dodds
Cushman & Wakefield
Drew Dodds
14 deals$466.4M volume
BROKER

Details

SOLD
IMAGE: Aric Starck & Drew Dodds DATE: 11/20/2024 ADDRESS: 1960 Citracado Parkway MARKET: Escondido ASSET TYPE: Industrial ~ ACRES: 9.5 BUYER: San Diego County Water Authority SELLER: RPG BROKERS: Aric Starck (@Starckie) & Drew Dodds - Cushman & Wakefield (@CushWake) SALE PRICE: $38,760,000 SF: 88,552 ~ PPSF: $438 NOTE: Cushman & Wakefield brokered the $38.76 million forward sale of an 88,552-square-foot industrial building in Escondido, CA, to the San Diego County Water Authority. Part of RPG’s Escondido Logistics Center, the property is the first speculative industrial project in Escondido in five years, with a second building set for completion in early 2025.

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Debt Service Coverage Ratio (DSCR)

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