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12/30/14
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Charter Industrial Supply completed both a building sale and a purchase in the San Diego area in separate transactions with a combined value of around $6.5 mil. Charter, a distributor of 30,000 industrial products, from fasteners to chemicals and aerosols, made the moves to accommodate the company’s expansion needs.
Charter sold their current 15.5k sf building for $2.695 mil ($174/sf), generating a profit of nearly $1 mil since their purchase of the property just two years earlier. The property, located at 7150 Carroll Rd in the Miramar area, was acquired by Empire Electrical Supply, who will use the building for office, storage and distribution of electrical supplies and contracting work.
Charter purchased a 23.6k sf building in a prime location that met all of the company’s needs. That building, located at 7832 Ostrow St, was purchased from Vander Linde Family Trust for $3.8 mil ($161/sf).
Nick Price, Vice President in Voit Real Estate Services’ San Diego office, represented Charter in these transactions.
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