Cushman & Wakefield recently advised RPG, a San Diego-based company, in the forward sale of an 88,552-square-foot industrial building located in Escondido. The property was purchased by the San Diego County Water Authority (SDCWA) for approximately $38.76 million while it was still under construction.
The acquisition by SDCWA was originally part of a larger planned development known as the Escondido Logistics Center, which includes two buildings. The second building is currently being constructed.
Represented by Cushman & Wakefield’s Aric Starck and Drew Dodds, RPG successfully completed the sale. Starck and Dodds are also leading marketing efforts for the second building which spans 58,502 square feet and is available for lease or purchase with an expected completion date of January 2025.
According to Starck: “This transaction presented a unique opportunity to acquire a new Class A industrial facility in North San Diego County – one of the most sought-after markets in Southern California.” He added that this marks one of only few speculative industrial developments completed within Escondido over recent years.
