REIT Sells 4 Properties for $12.1M

SAN DIEGO-A Lafayette, CA-based investment firm says it has sold four San Diego County properties for a total of $12.1 million in two separate transactions with the same anonymous buyer.

The $3.7 million sale of the 33,144 sf 6960 Flanders Building in San Diego closed on April 18. The R&D property, owned by the company since 1998, is fully occupied by a single tenant. The $112 per sf sales price resulted in a gain of $231,000.

Also on April 18, escrow closed on a single transaction involving the sale of three separate properties in Vista, CA. The three properties, 2230 Oakridge Way, 2455 Ash Street, and 2465 Ash Street, are all fully occupied single tenant R&D buildings.