San Diego Business Journal

SALES

Bonita Professional Plaza LLC purchased the Bonita Professional Plaza, a 45,507-square-foot property located at 180 Otay Lakes Road, for $5 million. The property will soon undergo a significant exterior upgrade. The seller, 180 Otay Lakes Road Holding LLC, and the buyer, Bonita Professional Plaza LLC, were represented by Duncan Dodd, SIOR, and Phil Linton of Cassidy Turley/BRE Commercial.

LEASES

TAP Automotive Holdings dba Explorer Pro Comp signed a five-year, $1,927,428 lease renewal for 78,350 square feet of industrial space in Salt Creek Industrial Center, located at 2360 Boswell Road, Suite 400. The lessee represented itself. Charlie Adolphe and Ryan Teel of Cushman & Wakefield and Travis Jaedtke of Heritage Real Estate Advisors represented the owner/landlord, Adaya Asset Boswell East and West.

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Nokia leased the 196,742-square-foot Leadership in Energy and Environmental Design Gold-certified office tower at Summit Rancho Bernardo, 16620 W. Bernardo Road. Brent Wright and Chris Pascale of CB Richard Ellis represented the lessor, Jay Paul Co. Doug Lozier, also of CB Richard Ellis, represented Nokia.

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Gonzalez Sports Academy signed a five-year, $792,732 lease for 28,754 square feet of industrial space in the Salt Creek Industrial Center, located at 2360 Boswell Road, Suite 400. The lessee was represented by Dan Malcolm of Lee and Associates. The lessor, Adaya Asset Boswell East and West, was represented by Charlie Adolphe and Ryan Teel of Cushman & Wakefield and Travis Jaedtke of Heritage Real Estate Advisors. Gonzalez Sports Academy is set to open in May 2010.

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5 Star Beverage Inc. signed a 36-month lease for 14,200 square feet of space at 7720 Formula Place from R.J. Land Co. LP. The $383,400 lease will be used for general office space and warehouse and beverage distribution. Arnie Friedman of Colliers International represented both the lessor and the lessee.

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Old Gringo LLC signed a 36-month, $221,000 lease renewal and expansion for an 8,500-square-foot industrial space in the Southrail Business Park, located at 683 and 675 Marsat Court, Suite B. Old Gringo will be expanding by 2,800 additional square feet. Old Gringo LLC as well as the lessor, Westcore Properties, represented themselves in the transaction.

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EMB America leased 6,412 square feet of office space for six years at 12235 El Camino Real, Suite 150, for $1.3 million. Bill Cavanagh of Cassidy Turley/BRE Commercial represented the lessee in the transaction. Brian Galligan of Kilroy Realty Corp. represented the lessor.

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Centennial Escrow Inc. has expanded and extended its lease in 3,026 square feet of office space at North Coast Business Park, located at 531 Encinitas Blvd., Suite 119. The tenant extended the lease for 36 months at $197,184 and will continue to use the space as an escrow company. The lessee was represented by Bob Cowan and Cassidy Turley/BRE Commercial. The lessor was represented by Kevin Farrell and Barry Mahlberg of Cushman and Wakefield.

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Bank of America N.A. has renewed its lease on 3,780 square feet of retail space in Atria, 100 Island Ave., from Market First Investments LLC. The property was renewed for 13 months and will continue to be used for a banking and mortgage company. Financial terms were not disclosed. The lessee was represented by Alan Baca of Jones Lang LaSalle. The lessor was represented by Corinna Gattasso, David Maxwell and Bill Shrader of the Cushman & Wakefield Urban Property Group.

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Jin Young Kin dba: Beauty Supply has leased 2,500 square feet of retail space at 9735 Campo Road, Suite 200, from Pacific View. The property was leased for five years at $218,643. The lessor was represented by Scott Duhs of Duhs Commercial Inc. The lessee was represented by Richard Lara of Mission Center Realty.

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GSA (U.S. Government) has extended its lease on 1,823 square feet of office space at 610 W. Ash St., Suite 1103, from Glenborough LLC. The property, extended for 60 months at a value of approximately $300,000, will continue to be used for a government office. The lessee represented itself. The lessor was represented by Pascal Aubry-Dumand and Matthew Carlson of Cushman & Wakefield.