San Diego Business Journal

SALES

Town Plaza Communities, a 68-unit apartment complex at the corner of Ballantyne Street and East Park Avenue in El Cajon, has been sold for $6 million, or $88,235 per unit. The seller of the property was Solid Goods Corp., represented by Chris Zorbas and Raymond Choi of Marcus & Millichap's National Multi Housing Group. The buyer was The Conrad Prebys Trust; the buyer was represented by Zorbas, Choi and Susan Smith of Marcus & Millichap.

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John and Cynthia Grooms purchased the El Tesoro Apartments in El Cajon from First Regional Bank for $3.8 million. Located at 434-456 S. Mollison Ave., the 41-unit complex features a mix ranging from a studio to a four-bedroom apartment. Built in 1977 on 2.2 acres, the complex totals 32,875 rentable square feet with a landscaped courtyard and community pool. The property includes a large piece of vacant land on the southwest corner of the property. Eric Comer, Jim Neil and Merrick Matricardi of CB Richard Ellis represented both First Regional Bank and the buyers.

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A 2,212-square-foot medical and dental condominium unit in the new five-building Carlsbad Medical Village development has been sold for $999,516. The property is located at 1291 Carlsbad Village Drive. The buyers are Parmis Sionit and Kelly Ryan Taylor, who will use the new space as an orthodontics dental practice. The seller was Carlsbad Medical Village. Paul Braun and Chris Ross of Colliers International represented the Seller. Geri Savitt of Award Commercial Properties represented the buyer.

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National Avenue, located at 4150 National Ave. in San Diego, has sold for $1,640,000. Built in 1968, the property consists of 18 studios, 18 one-bedroom units, and one two-bedroom unit, all housed in three buildings totaling 12,150 square feet. The seller was Steven K. Vorres and Cynthia J. Vorres, trustees of the Vorres Family Trust. The buyer was Malic Property Management of San Diego. The transaction was negotiated by Allen Chitayat and Josh Browar of the San Diego office of Hendricks & Partners on behalf of the buyer. The seller's representative was not disclosed.

LEASES

Federal Insurance Co. has renewed its lease on 5,745 square feet of office space, at 610 W. Ash St. in San Diego, from Glenborough. The space renewed for 61 months at $732,023 and will continue to be used for an insurance company. The lessee was represented by Steve Wells of CB Richard Ellis. The lessor was represented by Pascal Aubry-Dumand and Ron Miller of Cushman & Wakefield.

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Ticor Title Insurance Co. has leased 3,080 square feet of office space in Allied Office Plaza at 7777 Alvarado Road, Suite 101, in La Mesa. The space, leased for 60 months at $258,030, will be used for an insurance company. The lessee was represented by Kurt M. Klug. The lessor, Allied Office Plaza, was represented by Kyle Clark, Kipp Gstettenbauer and Matt Davis of Cushman & Wakefield.

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Navmar Applied Sciences has leased 4,703 square feet of industrial/flex space, at 6865 Flanders Drive in San Diego's Centerpark Plaza, from IPERS Centerpark Plaza I & II. The property was leased for 60 months with a transaction value of $390,000. The lessee was represented by Adam Fike and Barbara Kreis of Sperry Van Ness. The lessor was represented Eric A. Northbrook, SIOR and Sean Williams of Cushman & Wakefield.

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BBL Consultants has leased 908 square feet of office space, at 201 Lomas Santa Fe Drive in Solana Beach, from Ocean Terrace. The 60-month lease is valued at $163,440 and the office space will be used for company headquarters. The lessee represented itself. The lessor was represented by Michael Dyer of Cushman & Wakefield.

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iNational Closing & Escrow has leased 465 square feet of office space, at 8813 Villa La Jolla Drive in La Jolla, from Alecta Real Estate USA. The 60-month lease is valued at $80,223 and will be used for a mortgage lending and escrow company. The lessee represented itself. The lessor was represented by Pascal Aubry-Dumand of Cushman & Wakefield.

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The 2,828 square feet of industrial space at 5555 Magnatron Blvd. in San Diego has been leased to Sidus Solutions by Cabrillo Commerce Center. The transaction value is $96,294 for a term of 36 months. The property will be used for general industrial space. The lessee was represented by Chris Holder of Cushman & Wakefield. The lessor represented itself.

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Classic Mortgage Solutions has leased 1,424 square feet of office space, at 2635 Camino del Rio South in San Diego, from Southern California Real Estate Services. The property, leased for 12 months at $29,050, will be used for general office space. The lessee was represented by Connie Zimmerman of the Wilkinson Team of Coldwell Banker. The lessor was represented by Derek Applbaum of Cushman & Wakefield.

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Michael Corless has leased 808 square feet of office space, at 201 Lomas Santa Fe Drive in Solana Beach, from Ocean Terrace. The space, leased for 12 months at $18,000, will be used for general office space for a construction company. The lessee represented itself. The lessor was represented by Michael Dyer of Cushman & Wakefield.

, Cassandra Dump