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Sales and Leases



SALES

Westcore Properties LLC purchased a 106,000-square-foot industrial building on 5 acres in Miramar for $14.1 million from RJR Properties LLC. The property is located at 9990 Empire St.

The transaction was structured as a sale-leaseback. The property is leased to Hoist Fitness Systems Inc.

Both sides in this transaction were represented by Tim Hoag and Mickey Morera of San Diego’s Burnham Real Estate.

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Urban West, a Santa Ana developer, purchased a 2-acre parcel on the corner of El Camino Real and Town Garden Road in Bressi Ranch, Carlsbad for an undisclosed sum. The developer is seeking approvals to rezone the parcel to develop Bressi Ranch Medical Plaza, a proposed two-story, 20,000-square-foot medical building.

The development would offer for-sale office suites and is adjacent to the Tri-City Medical Center’s Wellness Complex.

Urban West anticipates breaking ground in December 2007.

Aric Starck of Grubb & Ellis/BRE Commercial’s Carlsbad office has been retained to market the medical suites.

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Rimrock Villas Apartments in Escondido sold for $4.5 million. The apartment complex located at 1440 N. Broadway consists of 40 two-bedroom units totaling 37,000 rentable square feet. The complex also features 18 garages, 62 parking spaces and a swimming pool.

Eric Comer, Merrick Matricardi and James Neil of CB Richard Ellis represented the seller, Charles J. Bether. Terry Moore of Apartment Consultants Inc. represented the buyer, Margaret Hulter Turney.

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A two-story 20,000-square-foot office building on 1 acre at 8939 Villa La Jolla Drive in La Jolla sold for $8.75 million. Burnham Real Estate’s Pascal Aubry-Dumand, Lynn LaChapelle and Bob Prendergast represented the seller. The buyer, a local investor, represented himself.


LEASES

A 40,000-square-foot building and 138,000 square feet of land at 16465 Via Esprillo in Rancho Bernardo sold for $7 million.

The buyer, Palo Alto-based Menlo Equities Associates LLC, was represented by Brian Mulvaney and Bruce Sanders with the San Diego office of Voit Commercial Brokerage. The sellers, FBO Suncoast Homes Inc. and Wildhorse Ranch LP, were represented by Tom Moore of CB Realty Advisors Inc.

The building was purchased as an investment and will be used for future development, according to Voit.

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Pei Wei Asian Diner leased 3,200 square feet of retail space on Las Posas Road in San Marcos from World Premium Investments for $1.3 million. The lease is for 120 months. Phil Lyons and Bruce Schiff of Grubb & Ellis|BRE Commercial represented the lessor.

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Independent Financial Group LLC signed a lease for 3,600 square feet of office space at 12636 High Bluff Drive in Del Mar Heights from Carr NP Properties LLC for $1.3 million. The lease is for 60 months. Joe Anderson, Stacy Looney and Rick Reeder of Grubb & Ellis|BRE Commercial represented the lessor and Jeff Chasan of Commercial Realty Advisors represented the tenant.

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DB Installations Inc. leased 4,600 square feet of industrial space at 8920 Kenamar Drive for $286,000. The lease is for 49 months. Dean Asaro and Andy Irwin of CB Richard Ellis represented the owner, San Diego-based H.G. Fenton Co. DB Installations represented themselves.

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Titleist Performance Institute signed a lease for 3,500 square feet of office space in Cornwell Business Center at 1949 Avenida del Oro in Oceanside for $222,000. The lease is for 38 months and will be used as a general office and for video production. Both parties were represented by East Haradin and Tim Moore of Coldwell Banker Commercial Almar Real Estate Group in Carlsbad.

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Trivest Partners I leased 4,500 square feet of industrial space at 3125 Scott St. in Vista for 60 months. The lease was valued at $203,000. Tim Clepper and Isaac Little of Lee & Associates’ North San Diego County office represented the tenant and Jeff Ingham of Jones Lang LaSalle represented the lessee, Carlsbad-based TaylorMade-adidas Golf.

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Hao Tu and Mary Baker doing business as Annie’s Cleaners leased 1,300 square feet of retail space in Via Marco Plaza at 997 W. San Marcos Blvd. in San Marcos from Polis & Sons Inc. The five-year lease is valued at $116,000. The space will be used as a dry cleaning drop location.

Matt Shope of CB Richard Ellis represented both parties.

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NCCLC leased 2,000 square feet of industrial space at 4168 Avenida de la Plata in Oceanside for 36 months. The lease was valued at $61,000. Larry Strickland and Rusty Williams of Lee & Associates’ North San Diego County office represented the buyer and seller, GRT Properties I LLC in the transaction.

, Michelle Mowad

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