Warehouse and Office Property in Vista Sold for $8.8 Million

A 35,469-square-foot industrial building in Vista that was built in 1999 has been sold for $8.8 million, according to a real estate brokerage.

Matt Pourcho, Anthony DeLorenzo, Matt Harris and Casey Sterk of CBRE’s Investment Properties represented the seller, Hana Roads Holdings LLC, in the transaction.

Dangra Inc., which legal records indicate operates as Redback Boots in the U.S., purchased the building and was represented by Sam Sukut at Matthews Real Estate.

“Owner-user demand remains robust in North County,” Pourcho said. “This building was a perfect fit for a company looking to expand and was a great result for all parties.”

Located at 2350 Oak Ridge Way, the building features more than 25,900 square feet of warehouse space and 9,500 square feet of office space, with 24-foot clear heights.

It was renovated in 2012, adding a rooftop solar system that fully powers the building. The purchase price works out to $250 per square foot.

According to CBRE research, Vista has a 2.7% vacancy rate. The city’s lower vacancy rate can be attributed to newer and higher-quality business parks.