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Avison Young brokers $4.8 million sale of 4.03-acre development opportunity in Vista, CA12 Jul 2021
Irvine, CA – Avison Young announced today that it has brokered the $4.8 million sale of a 4.03-acre development opportunity located at 510 and 522 North Avenue in Vista, CA (north San Diego County). The site is entitled for a self-storage facility with RV and boat storage along with on-site parking. The two-story building will also include minimal office space.
Alan Pekarcik, Principal and Chris Smith, Senior Associate who are based in Avison Young’s Irvine office represented the seller, a southern California-based partnership. The buyer was Clear Sky Capital out of Arizona. Stephen Grossman of RE/MAX One Commercial also assisted in marketing of the transaction.
“This transaction reflects a purchase for an entitled self-storage facility and one of the most desirable product types in today’s market,” said Smith. “North San Diego County has witnessed a steady increase in rental rates as well as demand for this property type which will satisfy a demand in the five-mile radius. The buyer has continued to target sites ripe for self-storage development and once completed, this facility will be highly competitive for users.”
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