The buyer, Ranroy Co., has shelled out nearly $2.4-million for the parcel, on which the firm plans to build a 45,000-sf print shop. The company plans to relocate its Kearny Mesa-based printing business to the new facility.
Ranroy Co. was represented by Bob Mooney of Business Real Estate. Rob Merkin, Brad Black and Bret Gosset of CB Richard Ellis' San Diego Central office acted on behalf of the seller, Lennar Partners dba LNR Kearny Mesa Inc.
Vacant land continues to sell at a premium in San Diego, as there is a shortage of buildable lots here. Both investors and users are eager to snatch up space here, as it continues to boast one of the strongest economies and one of the hottest real estate markets in the entire nation.
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