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Tuesday, Apr 23, 2024
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LBA Buys Office and Industrial Buildings

The San Diego office of Irvine-based LBA Realty, a real estate investment and management company, announced Monday that it had acquired two properties in the San Diego market for a total of $29.5 million.

With these purchases, LBA Realty said it had acquired more than $47 million in San Diego properties during the past 90 days.

LBA purchased the first building, a single-story, 109,770-square-foot office building at 13112 Evening Creek Drive South in San Diego, for $15.8 million. The property is close to the newly built state Route 56 and has “frontage,” or visibility, from Interstate 15.

The seller was Lafayette-based Bedford Property.

In the second transaction, LBA purchased the 159,172-square-foot, two-building Brandywine Industrial Center at 1699 and 1675 Brandywine Ave. in Chula Vista for $13.7 million. The Chula Vista buildings are 87 percent leased to seven different tenants.

The seller in this transaction was San Diego-based Yale Properties.

In the first transaction, Brent Wright and Jerry Keeney of CB Richard Ellis represented both the buyer and the seller. In the second transaction, Nick Psyllos and Shane Harmon, also of CB Richard Ellis, represented both the buyer and the seller.

Heather Bergman

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