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Wednesday, Jul 17, 2024

Sales and Leases


Local real estate development and investment firm Cruzan | Monroe purchased a 46,000-square-foot building located at 2052 Corte Del Nogal in Carlsbad. DEI LLC sold the R & D;/flex building for $6.2 million.

The 23-year-old building, which is currently unoccupied, sits on 3.4 acres. With no tenants, Cruzan | Monroe will renovate the property.

Mark Emerick and Dennis Visser of Grubb & Ellis|BRE Commercial represented the buyer, while Matty Sundberg and Barry Hendler of Grubb & Ellis BRE|Commercial represented the seller.

Emerick and Visser will also handle leasing efforts.

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Dan Floit purchased a 19,500-square-foot residential building located at 2284 Dunlop St. in Linda Vista for $2.2 million from the Montemayor Family Trust. The structure, built in 1986, has 16 two-bedroom, two-bath units that will be converted into condominiums.

Douglas Simmons of DWS Properties represented the buyer and seller.

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DPG Trust acquired three R & D; units in the Kearny Mesa Complex, a recently converted office and industrial condominium project at 8943, 8945 and 8951 Complex Drive in Kearny Mesa. DPG Trust purchased the units from KM Complex LP for $1.6 million.

DPG Trust will use the units, which total 7,000 square feet, for a telecommunications business.

Doug Works and Bill Dolan of CB Richard Ellis represented the seller, KM Complex LP.

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Fifty First LLC purchased a 5,000-square-foot single-story industrial building located at 1938 Kellogg Ave. in Carlsbad for $956,000.

Bob Willingham of Coldwell Banker Commercial represented the buyer, while Barry Hendler of Grubb & Ellis|BRE Commercial represented John Livingstone, the seller.

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FD 531 LLC purchased a 2,500-square-foot office condominium in North Coast Business Park in Encinitas for $951,000.

Barry Mahlberg, Kevin Farrell and Stephanie Schaefer of Burnham Real Estate represented the buyer and the seller, NCBP Development Inc.

NCBP Development Inc., previous owner and developer of North Coast Business Park, converted the property to office condominiums after its acquisition.

The company also upgraded the project’s mechanical equipment, roof and landscaping and hired on-site management. The park was built in 1983.


Azusa Pacific University leased 18,000 square feet of office space located at 5333 Mission Center Road in Mission Valley for 120 months at $6 million.

Richard Gonor and Tony Russell of Grubb & Ellis|BRE Commercial represented the lessor, Realty Associates Fund VII LP. Jim Hughes of NAI San Diego Commercial Real Estate Services represented the lessee.

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Empire Beauty Supply Co. Inc. signed a 10-year, $1.4 million lease for 2,700 square feet of retail space in the Mira Mesa Market Center at 10755 Westview Parkway.

Kam Walton and John Jennings of Burnham Real Estate represented the lessee and the lessor, Mira Mesa Marketplace East LLC.

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Service-Now.com signed a five-year, $3.6 million lease for 21,000 square feet of office space located at 115 South Acacia Ave. in Solana Beach.

The space is part of a 24,400-square-foot office building whose remaining space is still available for lease.

Duncan Dodd and Stacy Looney of Grubb & Ellis|BRE Commercial represented the lessor, 115 South Acacia Ave. LLC, while Craig Knox of Irving Hughes represented the lessee.

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South Sun Products Inc. signed a 41-month lease for 17,000 square feet of office space in Westcore Sandrock Office Complex located at 8601-1 Aero Drive in Serra Mesa.

The property was leased for $348,500 from Westcore Properties and will be used for warehousing, assembly and distribution of jewelry, as well as sales of jewelry to the public at wholesale and related general office use.

The two parties represented themselves in the transaction.

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Tire Center LLC has leased 27,000-square-feet of industrial space located at 4055 Calle Platino in Oceanside from LBA Realty for 10 years at $2.6 million.

The lessee will use the industrial space for tire storage and distribution.

Rick Cavanaugh and Rob Gunness of CB Richard Ellis represented the lessor, LBA Realty. Justin Beattie and Erik Parker of Grubb & Ellis|BRE Com & #173;mercial represented the lessee, Tire Center LLC.

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Michael and Cuenrozi Miller, doing business as Wings-Pizza-N-Things, signed a seven-year, $681,000 lease for 2,600 square feet of retail space in Vineyard Square located at East Valley Parkway in Escondido.

The Vineyard Square shopping center is home to numerous tenants including Albertson’s, Verizon, L & L; Hawaiian BBQ and The UPS Store.

Brad Jones and Lauren Trussell of CB Richard Ellis represented the lessee and the lessor, Escondido Rose LLC.


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