A large industrial portfolio in Camarillo recently changed hands to the tune of $23.4 million. Marcus Adams Properties recently acquired six multi-tenant and two single-tenant industrial buildings totaling 205,669 square feet, all located in the Flynn Road Industrial Park of Camarillo. At the time of sale, the properties were 96 percent leased with 28 different tenants. Mitch Conlee of Daum Commercial represented Marcus Adams, and Sam Wagner of Told Partners represented the seller.
Craig Marcus, managing partner of Marcus Adams, said the investment firm has had an interest in acquiring the properties for more than 15 years. “Our first attempt to acquire three of the buildings was in 1999,” he said. “We recognized the value of these buildings in the extremely strong Camarillo market … very rarely do we have the ability to purchase a concentration of high-quality properties in an A-plus location directly from the original developer.”
The properties were constructed between 1986 and 1999 by a local developer and remained in the original family’s ownership and management since the first build out. With this acquisition, Marcus Adams now owns over two million square feet of industrial real estate.