Los Angeles, CA ( March 31, 2016)- Circle Industrial, a real estate private equity firm based in Los Angeles, has acquired Oceanside Circle Industrial Park, an off-market multi-tenant industrial property consisting of 53,240 SF located at 2905-2933 Oceanside Blvd. and 2942-2956 Industry St. in Oceanside, CA.
The property, well located close to the I-5, I-15, 76 and 78 freeways, is spread across nine separate land parcels and was 90% occupied at the time of purchase. Circle Industrial plans to complete strategic upgrades to the property and maintain high occupancy rates while increasing net income over the life of the investment. Both parties were represented by Mike Barreiro of Daum Commercial in the transaction. Leasing agents are Joe Crotty and Josh McFadyen of Colliers.
Circle Industrial is a real estate private equity firm focused on the acquisition, development and operation of industrial properties in strategic U.S. markets. Circle Industrial is led by executives Pat Maloney and Eric Omohundro, who have been working and investing together for years at Circle Industrial and previously at Prologis (NYSE: PLD). www.circle-industrial.com