SAN DIEGO-Locally based ARK Management has added more than 100,000 square feet to its third-party management portfolio in the month of May. The firm has added two additional third-party management contracts, which include Siempre Viva III in San Diego and Sycamore Pointe Business Park in Vista, CA.
Sycamore Pointe Business Park is a two-building industrial park totaling 61,386 square feet. The property includes 15 units total and the units range in size from 2,482 to 4,983 square feet. ARK Management was selected by the owner to manage the property, construction and tenant improvements.
Siempre Viva III is a 55,380-square-foot industrial property comprised of four units ranging in size from 13,845 to 55,380 square feet. PacVentures, a commercial real estate investment and development company based in San Diego, selected ARK Management to handle the management of the property and will eventually manage the association after the units are sold. GlobeSt.com learns that the asking price of Siempre Viva III is $85 per square foot.
Siempre Viva III is located in that Otay Mesa region at 8527 Avenida Costa Sur and 8534 Siempre Viva Rd. in San Diego. PacVentures Inc. acquired the property through the company’s PV Opportunity Fund I LP and hired ARK Management due to its previous experience in the Otay Mesa region, says Kevin Wechter of PacVentures Inc.
The property is currently 100% vacant, which allows the flexibility of a full building 55,380-square-foot user to purchase the property or the ability for individual users or investors to acquire the four smaller 13,845 units, according to ARK Management. Regan Tully and Phil Linton of Grubb and Ellis Co., who are the exclusive marketing representatives for Siempre Viva III, are offering the units for sale or lease.
Located in Vista Business Park, Sycamore Pointe Business Park is located at 1305-1315 Hot Spring Way in Vista, CA. This newly constructed property is almost 30% vacant and available for lease. Bob Willingham and John Witherall of Almar Group are the exclusive marketing representatives.
Prior to these two newly secured contracts, ARK Management has grown substantially by continuing to expand its third-party management portfolio, according to a prepared statement. “Our personalized service and value enhancement principles position us to continue expanding and adding properties such as Siempre Viva III and Sycamore Pointe Business Park,” says Adam Robinson, co-founder and asset manager for ARK Management.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
