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1/25/13
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LBA Realty purchased a 14.4k sf, single tenant, industrial building in San Diego’s Kearny Mesa area for $4.1 mil ($285/sf). The property, sold by Kensington Properties LLC, is located at 3555 Aero Ct, on the east side of the confluence of the 163 Fwy and I-805, and just south of Montgomery Field.
The buyer was represented by Mark McEwen of Colliers International. The seller was repped by David Dilday of American Pacific Investments.
McEwen of Colliers stated, “LBA Realty jumped at the chance to purchase this asset with a signed 15-year lease to Loomis Armored to complete an internal 1031 Exchange requirement. Loomis occupied their previous facility in San Diego for 60 years.”
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