100% NNN LEASED MULTI-TENANT INDUSTRIAL WITH BELOW MARKET RENTS * 100% leased to long-standing “sticky” tenants with staggered lease expirations. Current in-place rents are approximately 11.20% below market providing upside through renewing tenants at market rents while at record-low vacancy rates. * The project is comprised of 7 suites with multiples uses and suite sizes that range from 1,600 to 2,900 SF. These incubator sized suites are the highest demand sizes in all of San Diego County. * MAJOR RENOVATION COMPLETE | The current owner has recently invested significant capital into the project eliminating near-term capital expenditures, providing ease of management, and high tenant retention. The improvements included a new roof, HVAC, skylights, parking lot, landscaping, signage program, fence repairs, new grade level doors and exterior paint. EXTREMELY STRONG MARKET FUNDAMENTALS SUPPORTING UPSIDE / NOI INCREASE * The greater San Marcos industrial market has one of the lowest vacancy rates in all Southern California currently sitting at only 3.8% with a 5-year average of 2.45%. This submarket has the lowest vacancy within all North County San Diego comprising of over 51M SF of industrial product. * Within the greater San Marcos market, “Low Finish Industrial” within San Marcos also has a vacancy rate of 1.0%. * With little to no options available for tenants to move to, new ownership should have no problem pushing rents to market. To access the offering memorandum, please visit the following link: https://www.ipsocal.com/properties/920rancherosdr/