Lee & Associates – North San Diego County Completes the $3.5 Million Acquisition of an Industrial Site in San Diego
SAN DIEGO, Calif.—April 28, 2016— Lee & Associates, one of the largest national commercial real estate firms, has completed the sale of a two parcel industrial site, located in the Otay Mesa submarket of San Diego, California. The site, located at 8710 Avenida de la Fuente includes a 23,634 square-foot building located on 2.5 acres.
Greg Pieratt and Alex Weiss of Lee & Associates – North San Diego County represented the buyer, TP Otay Mesa, LLC in the transaction. Tim Mills of CBRE represented the seller, Cactus Road, LLC.
“The site provides a rare opportunity to acquire a highly functional warehouse building with a significant amount of secured storage yard, which is crucial to the buyer’s operational objectives,” noted Weiss.
The sale, valued at $3,500,000, is part one of a two part acquisition. The additional 1.61 acres are in escrow and set to close in early 2017.
About Lee & Associates
Celebrating more than 37 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.