520 N Quince St
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Marcus & Millichap is pleased to present for sale a newly renovated multi-tenant industrial property located at 520 North Quince Street in Central Escondido, California. This exclusive offering encompasses two parcels of land, together covering just under 60,000 square feet. The largest parcel includes two separate multi-tenant industrial buildings with 11 suites totaling 15,700 square feet, situated on a 1.19 “L”-shaped acre of land. The smaller parcel consists of a 7,327 square foot rectangular lot which is embedded within the larger parcel to comprise a seamless rectangle. The property underwent a massive upgrade in May of 2015, including a brand new fac?ade, new exterior LED lighting, repaved parking lots and much more.
The property itself is located just outside of Escondido’s central business district, less than one mile from the California Center for the Arts, Escondido and the Civic Center Plaza Shopping Center. Just one block away from the subject property, a parcel was purchased in December 2015 with plans to build multi-family housing. The location is easily accessible to North County San Diego’s central transport corridors in Interstate 15 and Highway 78.
This 100% occupied offering with a current capitalization rate of 6.00% presents an opportunity to take advantage of a stable submarket and uniquely favorable market conditions. Vacancy rates in Escondido’s industrial submarket continue to remain tight (currently at 3.5%) and demand is grossly outpacing supply.
- Complete Renovation in May 2015 Including Brand New Fac?ade & Exterior LED Lighting
- Multi-Tenant Industrial Building, 100% Occupied
- Strong Submarket, 3.5% Vacancy
- Near Interstate 15 and Highway 78 Near Downtown and Transit Centers
- Expansive Lot Size – Over 1.35 Acres in Total
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- Marcus & Millichap is pleased to present for sale a multi-tenant industrial property located at 520 North Quince Street in Central Escondido, California.
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