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

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.