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(Photo courtesy: Cushman and Wakefield)

Small Industrial Building Sold to Owner-User in Vista Achieves Record Pricing

Cushman & Wakefield Represents Seller in Transaction

Vista CA— A freestanding 9,150-square-foot industrial building in Vista (San Diego), California has sold to an owner-user for $1.79 million. Ki’s Kitchens, a privately-owned commercial kitchen company based in North County, acquired the high image property at 2530 Pioneer Ave. from BS Ventures, LLC. The buyer plans to relocate from its current location in neighboring Carlsbad.

Chris Baumgart and Jeffrey Sallen of Cushman & Wakefield’s San Diego office represented the seller in the transaction.

Baumgart said, “This is a desirable, well positioned building that made for an ideal purchase opportunity for a smaller operator. We generated multiple offers after only actively being on the market less than a month before securing a buyer.”

Sallen added, “Exemplifying the ongoing strong demand and interest for this type of facility in our region, according to our tracking, the $195 price per square foot achieved on this property was higher than any previous owner-user sale on record in Vista for similar buildings.”

Built in 1989 and situated in North San Diego County, 2530 Pioneer is a quality industrial property with recently upgraded interiors. The property features a modernized conference room, private office space and open break room/reception, as well as floor-to-ceiling glass walls, multiple restrooms, motorized grade loading, and a secured fenced yard. The building sits amidst a sea of well-known regional and global local businesses. The property is also proximate to Highway 78.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.