Industrial Parcel Sells, Development Planned

OCEANSIDE, CA-Activity is picking up in the Oceanside industrial market. The latest deal involves a 3.34-acre land parcel located in the Oceanside Gateway Business Park. The parcel sold for $1.6 million with Inland/Coastal Properties LLC acquiring the land from Oceanside Associates III & IV LLC.In the deal, Howard Zatkin of Colliers International represented the buyer while Jim Spain and Josh McFadyen also of Colliers International, in cooperation with Joe McDermott of Coldwell Banker Commercial North County Properties, represented the seller. The buyer plans to build a facility for Royal Concrete on the site. While details weren’t released on the scope of the devleopment, the business park’s parcels are entitled for free-standing buildings from 3,200 sf to 34,400 sf. There are also build-to-suit opportunities and multi-tenant space for lease from 1,000 sf at the park. Oceanside Gateway is a development of Costa Mesa-base bkm Development Company LLC. In 2003, the Orange County company paid $7.7 million for the 37-acre parcel that has been masterplanned as Oceanside Gateway. Located along the south side of Oceanside Blvd, east of College Ave. and west of Peacock Ave. in Oceanside, at buildout, the project will count 530,000 sf and consist of 36 light industrial facilities.Oceanside Gateway is not the only industrial activity taking place in the area. In January, plans were made for the development of 124 acres at what will be known as Pacific Coast Business Park. In that project, a joint venture between La Jolla-based residential developer the Monarch Group and industrial firms, DWO Enterprises of Solana Beach and Costa Mesa-based Guthrie Development Co. acquired the land for $28.2 million. The Monarch Group owns 50% of the property with Guthrie Development and DWO Enterprises sharing the remaining 50%, according to Shane Strickland principal, of Lee & Associates’ San Diego office.