Investcorp and Cire Equity Acquire Industrial Complexes in San Marcos and Temecula
Investcorp and Cire Equity have made significant moves in the industrial real estate market with their recent acquisitions in San Marcos and Temecula. Investcorp purchased a Class-A project in San Marcos for $50 million, while Cire Equity bought two industrial buildings in Temecula for approximately $24 million. These properties were previously owned by undisclosed sellers but are linked to Blackstone portfolio companies.
The San Marcos property, located at 195 Bosstick Blvd. and Norman Strasse Road, consists of four buildings totaling 221,000 square feet. Built in 2018, the property was fully leased at the time of the sale. On the other hand, Cire Equity acquired two industrial buildings at 26201 Ynez Road and 42259 Rio Nedo Road in Temecula. The deal closed in May for a total of $24 million.
The transactions were facilitated by Cushman & Wakefield’s Southern California capital markets team, including Aric Starck, Jeffrey Cole, and Drew Dodds, who represented the seller in the deals.
In other real estate news, Allen Matkins has expanded its real estate transactional team by hiring partners Dean Pappas, Jennifer Sung, Shaunt Kodaverdian, senior counsel Julia Lee, and associate Brenn Coyle from Goodwin Procter. This move will enhance Allen Matkins’ capabilities in joint ventures, private equity, and finance.
Additionally, Decron Properties acquired the Mira Mesa Market West shopping center in San Diego for $99 million from Stockbridge Capital Group. The shopping center is fully leased and anchored by Home Depot, Smart & Final, and CVS.
Overall, these recent real estate transactions highlight the continued activity and investment in the industrial and retail sectors in Southern California.
