800 Gateway

800 W. Valley Center Parkway, Escondido, CA | 25,823 SF

• Acquired in 2014 for $3.5M / $140 PSF (70% below replacement)

• Purchased “off market” at loan basis from sponsor / special servicer

• Newer vintage construction with above standard parking (5/1,000 SF)

• Walkable to retail and transit orientation to Sprinter station (North County transit)

• 50% occupied at time of purchase with long term vacancy

• Invested in renovation plan and re-branding effort

• Leased balance of space to Palomar Health at 20% premium to in place rents

• Sold in 2016 for almost $7M / $280 PSF 

• Sold in 22 months at 25% unlevered IRR / 1.5X multiple

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