35K SF lease in San Marcos
Groundworks signed a long‑term lease for an entire 35,000‑square‑foot industrial facility in San Marcos along the SR‑78 corridor, a deal brokered by Cushman & Wakefield. The transaction was highlighted as a regional comparator to Southern California leasing activity. (x.com)
Groundworks has leased a 34,854-square-foot industrial building in San Marcos, taking the entire facility at 2954 Norman Strasse Road. (theregistrysocal.com) Cushman & Wakefield said it represented landlord Investcorp in the long-term deal, which covers Building D in the Produc•tion industrial project along the State Route 78 corridor in North San Diego County. (theregistrysocal.com; cushmanwakefield.com) The building was marketed for lease at 34,854 square feet, and Cushman & Wakefield’s listing identifies it as manufacturing space at the Norman Strasse Road address. (cushmanwakefield.com) Groundworks describes itself as a foundation repair and water management company with more than 70 locations in the United States, and says it operates its own manufacturing business. (groundworks.com; groundworks.com) That tenant profile fits the building type. A full-building industrial lease by an operating company points to space for production, storage or service logistics rather than a short-term speculative hold. (cushmanwakefield.com; groundworks.com) The address sits in a corridor that Caltrans calls the main east-west route through North County, linking San Marcos with Oceanside, Escondido and connections to Interstate 5 and Interstate 15. (dot.ca.gov) The lease also lands in a project that changed hands recently. Investcorp bought the four-building, 221,294-square-foot Produc•tion complex in San Marcos for $50 million in January 2024, according to trade reports on the sale. (connectcre.com; rebusinessonline.com) San Diego industrial leasing has been moving through a softer stretch. Cushman & Wakefield reported a 7.2 percent vacancy rate for the county at the end of 2025, while asking rent stood at $1.47 per square foot on a net basis. (assets.cushmanwakefield.com) In that market, a tenant taking an entire 35,000-square-foot building in San Marcos gives Investcorp a full user at one of the Produc•tion buildings and adds another data point for North County industrial demand along State Route 78. (theregistrysocal.com; dot.ca.gov)
