Buyer Las Posas No. 1 LP has acquired the property from the Coca Cola Bottling Co. of Los Angeles. The new owner plans to hold the parcel, which is located at the corner of Las Posas and Armorlite Drive, for future development.
Michale Dyer of Burnham Real Estate Services ONCOR International acted on behalf of Las Posas No. 1 LP. The Coca Cola Bottling Co. was represented by Robert Farrar of Farrar & Associates.
Land prices in San Diego County are still among the highest in the entire nation, due to the region's sizzling real estate market and lack of available parcels. The area continues to boast one of the best-performing real estate markets in the country, due to its diverse job base, low unemployment rate and steady population growth.
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