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8/23/13
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National City Partners Ltd has acquired a 40k sf industrial building in National City for $3 mil ($75/sf). The building is located at 1010 W. 19th St, along the coast on the west side of I-5, directly across from Coronado.
During escrow the building’s new owners, National City Partners, with Fiedler Construction Group as general partner, negotiated a new lease for the entire property with a San Diego defense contracting firm. Terms of that transaction were not disclosed.
In the sale, Darren Mullins and Erik Parker of Cassidy Turley’s main San Diego office in UTC represented the seller, International Paper. The buyer was repped by Richard Murdock, CCIM, SIOR, of Lee & Associates.
Cassidy Turley reports that International Paper had occupied the property for several years as a San Diego distribution center for their paper products. The property was listed for sale after the company’s decision to handle distribution through Los Angeles.
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