Staley Point Capital and Bain Capital Real Estate have recently acquired a 78,000-square-foot industrial property in Poway for $20 million. This marks the third acquisition in the San Diego market for their joint venture, as they actively seek to acquire infill industrial properties along the West Coast.
The property, located at 13450 Stowe Dr., is currently fully leased to a global credit tenant and was purchased at $251 per square foot – significantly below physical replacement cost.
According to Eric Staley, managing partner of Staley Point, this transaction aligns with their strategy of acquiring high-quality assets in densely populated markets with limited supply. The tenant is an investment grade company operating within a highly sought-after submarket that boasts strong defense and healthcare industries as well as nearshoring activity.
This purchase follows closely behind two other acquisitions made by Staley Point and Bain Capital earlier this year in Vista.
