5816 Dryden Ave.
Photo courtesy of Stos Partners
Stos Partners, a real estate investment firm based in Encinitas, has sold a Carlsbad research and development firm it bought in 2019 for a profit of nearly $1.5 after renovating it.
The firm sold the 22,156 square-foot building at 5816 Dryden Place for $5.2 million to Fred Rosenthal of Fredmore, LLC.
Stos Partners bought the building in 2019 for nearly $3.8 million.
“Upon acquisition of this property, we leased approximately 85% of the space back to the seller, Professional Rugby team San Diego Legion,” says Stos. “This provided us with immediate cash flow as we implemented our strategic renovation plan to upgrade the asset, which included new landscaping, fresh paint, and modern interior office improvements.”
After buying the property, Stos Partners renovated and leased the remaining 4,700 square feet of ground-floor office space to Sierra Wireless.