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Local Partnership Acquires Nearly Seven-Acre Site for Development

MIRAMAR, CA-After a flurry of activity late last year, the local market picks up steam with the sale of a 6.98-acre parcel. The land, which is zoned for office and warehouse space, goes for $4.9 million.

By Daniel D. Williams | Updated on March 02, 2006

(To read more on the industrial market, click here.)

MIRAMAR, CA-After a flurry of activity late last year, the local market picks up steam with the sale of a 6.98-acre parcel. The land, which is zoned for office and warehouse space, goes for $4.9 million.In the deal, SD Trade Co. LLP, a local partnership, acquired the site to expand their San Diego County operations. According to officials, the partnership plans to build administrative offices and a warehouse at the site.Southwest Sales Inc., a real estate holdings and development company, sold the land, which is located at the intersection of I-15 and Miramar Road. Dave Demarest and Dean Asaro of CB Richard Ellis represented the seller and Ben Acree of AWS Commercial Real Estate represented the buyer.The site is already commercially zoned and located in the booming Miramar Industrial Market, San Diego County’s second largest industrial submarket, totaling approximately 14.5 million sf.Last year the area experienced aggressive investment activity for real estate property. In September, Miramar Commerce Center sold to LBA Realty for $17 million. The five-building, 112,483-sf business park is located just one block north of Miramar Road in the Miramar industrial sector.Completed in 1987 and 1997, the park sits on two parcels totaling 10.1 acres. The buildings are single-story, concrete tilt-up facilities. The project was 92.2% leased at the time of sale, counting 28 tenants in space ranging from 907 sf to 19,940 sf.In a separate Miramar deal, LBA picked up the Carroll Tech Center for $28 million. Bedford Property Investors sold the four-building, 132,244-sf park. Major tenants in the properties include Sony, San Diego Cash Register and Quantum Design.

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