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Wednesday, Jul 24, 2024
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Sales and Leases



SALES:

AMB/Grupo Accion purchased a 311,000-square-foot industrial complex and 185,000-square-foot Panasonic campus in Tijuana for $21.5 million.

Santa Fe, N.M.-based Cambridge Realty Partners sold the property for $12.95 million. The complex consists of 11 acres and features three buildings, which were retrofitted in 2004 into a 311,000-square-foot distribution hub serving the plasma TV industry.

The Panasonic campus features two buildings totaling 185,000 square feet on 17 acres. The campus includes 7 acres of developable land where AMB/Grupo Accion plans to begin construction on two buildings in July. Panasonic sold the campus for $8.2 million.

Vince Roche of CB Richard Ellis’ downtown San Diego office represented AMB/Grupo Accion in the Cambridge purchase, while Cambridge Realty represented itself. Roche and Hajimu Taguchi with CB Richard Ellis’ Torrance office represented Panasonic in the campus sale. Rich Kwasny of CB Richard Ellis represented AMB/Grupo in the acquisition of the center.

AMB/Grupo Accion is a joint venture between San Francisco-based AMB Properties Corp. and Mexico-based Grupo Accion.

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San Diego-based High Tech High purchased 5 acres at San Marcos Boulevard and Discovery Street in San Marcos from Novi Discovery LLC for $5 million. High Tech High North County is anticipated to open in the fall of 2007 in temporary facilities with construction of permanent facilities scheduled for completion in 2008.

Rick Cavanaugh and Dennis Hacker of CB Richard Ellis represented High Tech High. Lannie Allee, Roger Carlson, Doug Simpson and Dan Yeilding, also of CB Richard Ellis, represented Novi Discovery.

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The J. Stephen & Cheryl Jane Peace Family Trust purchased a 19,200-square-foot office building at 344 F St. in Chula Vista for $5 million.

Dan Malcolm with the San Diego office of Lee & Associates represented the buyer and Gary Daily of Realty Executives represented the seller, FNF 1031 Exchange Services Inc.

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Los Angeles-based Rexford Industrial LLC purchased a two-story, 72,000-square-foot research center at 5803 Newton Drive in Carlsbad for $10.6 million. Rexford plans to invest $1.2 million in capital improvements to the property.

The seller, Carmel Oaks Properties, and the new owner were represented by Kent Moore and Rick Reeder of Grubb & Ellis Commercial.

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A 4,600-square-foot retail building at 1955 Bacon St. in Ocean Beach sold for $1.2 million. The property was used as an automobile repair shop. The buyer, Architects Hanna Gabriel Wells, plans to build a new office on the property two blocks from the beach.

Steve Fiorentino and Ron Graves of Coldwell Banker Commercial Almar Real Estate Group represented the seller, Julie Ann Boehrig. The buyer was represented by Victor Krebs and Rob Morgan of Colliers International San Diego.


LEASES:

AT & T; Government Solutions Inc. signed a 60-month lease for 9,200 square feet of office space at 1650 N. Hotel Circle in Mission Valley for $1.1 million from the Mobile Solution.

Richard Gonor, Chris Hobson and Tony Russell of Grubb & Ellis|BRE Commercial represented the lessor and Bill Bacon of CB Richard Ellis’ San Diego office represented the lessee.

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Soleil Communications Inc. signed a 48-month lease for 10,700 square feet of office space at 2851 S. Camino del Rio in Mission Valley from 2851 Camino del Rio LP c/o Harman Asset Management. The lease is valued at $938,000.

Jack Kruger of Grubb & Ellis|BRE Commercial represented the lessor and Phil Linton, also of Grubb & Ellis, represented the tenant.

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P & CJ LLC, doing business as Sushi on the Rock, signed a lease for 2,500 square feet of restaurant space at 1025 Prospect St. in La Jolla from 1025 Prospect Limited Partnership. The 60-month lease is valued at $585,000.

Robert Kuzman and Michael Slattery of Grubb & Ellis|BRE Commercial represented the lessor. The lessee represented itself.

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6:10 Services, doing business as Debt Free America, signed a 61-month lease for $562,500 for 5,900 square feet of office space at 8575 Gibbs Drive in Kearny Mesa from Montgomery Field Associates LP.

Richard Gonor and Tony Russell of Grubb & Ellis|BRE Commercial represented the lessor and Ken Kisbert of Colliers International represented Montgomery Field Associates.

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Diamond Electronics signed a lease for 3,300 square feet of office space at 1450 Frazee Road in Mission Valley from San Diego Frazee LLC. The five-year lease is valued at $486,000.

Jeb Bakke, Mike Corbosiero and Scott Kincaid of CB Richard Ellis represented San Diego Frazee and Mary Carlson of Burnham Real Estate represented Diamond Electronics.

In addition, the same CB Richard Ellis team negotiated a three-year lease valued at $320,000 for Axia Real Estate Group Inc. for 3,630 square feet of space, also at 1450 Frazee Road, from San Diego Frazee LLC.

Tom van Betten of Burnham Real Estate represented Axia Real Estate.

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American Capital Finance Services Inc. signed a lease for 2,200 square feet of office space at 3111 Camino del Rio N. in Mission Valley. The property leased for 60 months at $411,000.

The lessor was represented by Tom van Betten, Eric Vann and Mark Wayne of Burnham Real Estate.

, Michelle Mowad

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