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11/07/19
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A two-building, 36.3k sf industrial property in Santee was acquired by San Diego-based Pearl and Herschel LLC in a $4.85 mil ($133/sf) deal. The property sits on a 2.12-acre parcel at 8745-8747 N. Magnolia Ave, in the northwest quadrant where the 52 and 67 highways come together.
Evan McDonald, SIOR, and Taylor DeBerry of Colliers International represented the Poway-based buyer, Zuantasnid. The seller, San Diego-based Pearl and Herschel LLC, was repped by Pat Geary of CEG Advisors.
“This property will be a strong, long-term investment for the new ownership in an ideal location,” said McDonald. “At the time of sale, the property was fully occupied by four tenants with remaining lease terms.”
Earlier in October 2019, McDonald and DeBerry represented Zuantasnid in the sale of a 21.5k sf industrial property in Poway for $4.4 mil. Following the closing of the Poway and Santee sales, McDonald and DeBerry also secured a lease for Zuantasnid in a 13.2k sf industrial suite in Poway for its retail and ecommerce business operations.
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