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1/08/15
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A 13k sf, warehouse/office building in San Diego sold for $1.14 mil ($88/sf). The building is situated on roughly one acre in the Otay Mesa Corporate Center, at 8653 Avenida Costa Norte.
The property includes 11k sf of office space, high visibility from I-905, and is located in the Foreign Trade and Enterprise zones.
Mark Lewkowitz of Colliers International represented the buyer, CFM Properties Inc. The seller, Legendary Partners LLC, was repped by Michael Mossmer and Bruce Sanders of Voit Real Estate Services.
“Inventory in the Otay Mesa market is getting scarce for purchase options of this size. The building was bought at $87 per square foot, which is far below replacement cost,” said Lewkowitz.
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