4-Acre North County Manufacturing Site, Built In 2008, Bought For $18.5M

By Editor, Times of San Diego

January 21, 2022

A single-tenant manufacturing facility in Vista has been sold for $18.5 million, according to a San Diego brokerage.

The 75,149-square-foot industrial manufacturing building, located at 2065 Thibodo Road, was purchased by a limited liability company, Thibodo Owner L.L.C.

Both the buyer and the seller, 10 Plus LLC, were represented by Mike Conger and Brian Jenkins of Commercial Asset Advisors and Joe Anderson of Jones Lang LaSalle.

“Industrial space in San Diego continues to be one of the most desired product types,” Conger said. “We are pleased we were able to structure a transaction that was truly a win-win for both parties, allowing the seller to achieve their strategic retirement goals while giving the buyer the ability to add value to the project with additional investments and repositioning.”

According to CAA, high demand for local industrial space is driven by e-commerce and life science users. In seeking a buyer for the site, they targeted qualified industrial firms interested in value-add, speculative investments.

Sale of the site, occupied by the firm CoorsTek Vista, was completed last month. According to RealtyTrac.com, the facility was built in 2008 and totals four acres. The property last sold in 2010 for $10.15 million.

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