(To read more on the industrial market, click here.)
SAN DIEGO- Cruzan | Monroe, who purchased Lots 10 and ll of Oceanside's Ocean Ran Corporate Center in 2004, has sold Lot 10, now referred to as La Pacifica 1, to Rreef for nearly $22 million.
The three buildings, which total 226,220 sf, will be leased to multi-tenant or full-building distribution and manufacturing tenants. The buildings' sale was negotiated prior to construction, something that is becoming more popular in the San Diego region.
"Pre-sales are a new trend in San Diego," says Louay Alsadek, now of CBRE, who facilitated the deal last year with Dennis Visser and Mark Emerick of Grubb and Ellis | BRE's San Diego office. Alsadek tells GlobeSt.com that "[pre-sales are] not as active as in other parts of Southern California, but we'll see more of it here."
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