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12/29/20
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A 20.1k sf, industrial/automotive building in San Diego was acquired for $6.5 mil ($323/sf) by 5135 Convoy LLC, an investment entity out of San Diego’s Kearny Mesa area. The property, located at 5135-5155 Convoy St, east of I-805 and just south of the 52 Fwy, was sold by FM Convoy LLC, based out of Newport Beach.
The seller of the property operated an Alfa Romeo dealership, with complete automotive service department, since purchasing the facility in the summer of 2016. The buyer has been looking to expand its successful Chapparone Autobody service business and the subject location was a good fit at the right time.
Brandon Keith with Voit Real Estate Services represented both parties in the transaction.
“This was a rare opportunity to acquire a recently renovated automotive property with great frontage and visibility on Convoy Street,” stated Keith. “The buyer owns other property in the Kearny market and recognized the difficulty in finding suitable automotive facilities in one of San Diego’s hottest market areas.”
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