In the larger of the two deals, AFJR Partners has acquired a 60,150-sf building located at 10946 Willow Court and a 24,370-sf facility that stands at 10948 Willow Court for a total of $7.4 million or $88 per sf. Tenants here include the San Diego Zoo, Wheel Pros and Quality Insulation. Dean Acosta of Colliers International acted on behalf of AFJR Partners. Acosta's colleagues Brian Driscoll, Jay Alexander, Eric Northbrook, Chad Urie and Ryan Grove of Colliers International acted on behalf of The Muller Co.

Separately, The Muller Co. has sold a 23,607-sf facility that stands at 10804 Willow Court and a 17,667-sf building that is located at 10802 Willow Court to several different buyers for $125 per sf or a total of $5.2 million. Tenants here include New Century Mortgage and IVHS. Tom Moore of CB Properties represented the buyers, with Phillip Laugen and Donna Laugen purchasing the 10804 property. The pair, along with Damarus-Moore LP, Laugen and Sun Coast, and Wild Horse Ranch Ltd. Partnership, also acquired the 10802 building. The same Colliers International team that represented The Muller Co. in the $7.4-million transaction also acted on behalf of the seller in this deal.

The Muller Co. and joint venture partner GE Capital acquired The Crossroads at 4S Ranch for $27.1 million in May 2003. Located on a 19.6-acre parcel, the property is comprised of seven facilities that encompass a total of 363,000 sf.

The recent Ranch Bernardo transactions have occurred as the San Diego County industrial sector remains fairly stable, with a 7.8% vacancy rate reported by Burnham Real Estate Services for the fourth quarter of 2003. The same report lists a year-to-date net absorption of nearly 2.2 million sf, with just a slightly larger amount (2.5 million sf) of industrial product currently under construction.