North San Diego to Receive First Industrial Spec Development Since 2008

  • October 10, 2014
  • News
  • 4 Minute Read

By Nellie Day

SAN DIEGO – McDonald Property Group and an entity owned by First Industrial Realty Trust have announced plans to develop La Pacifica II, a 237,275-square-foot industrial park in Oceanside. The $26-million project will be the first speculative industrial construction to occur in North San Diego since 2008, according to the developers.

The three-building project will be located on a 15.8-acre site within the master-planned Ocean Ranch business park. It will be situate off Interstate 5 and Oceanside Boulevard.

Ocean Ranch is also home to Coca Cola, Taylor Made and Genentech, among others. US Foods and FedEx will soon occupy space within the immediate area as well.

The new project will feature three light warehouse manufacturing buildings that contain 108,413 square feet, 63,262 square feet and 65,600 square feet.

This will be the first development project for McDonald Property Group, a company formed by Bruce McDonald in 2013.

First Industrial Financing Partnership acquired the fully improved and entitled site from La Pacifica 2-Ocean Ranch LLC, an entity owned by Cruzan Monroe Investments, this past September for $9.6 million.

La Pacifica 2-Ocean Ranch was represented by Aric Stark and Dennis Visser of Cassidy Turley in the sales transaction. The land was sourced by SR Commercial on behalf of McDonald Property Group. Transaction capital was arranged for McDonald by Rick Putnam of Colliers International.