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1/02/25
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A 2.71-acre land parcel in Oceanside sold for $5.2 mil. The property is located at the northwest corner of Jones Road and Benet Road in Oceanside.
The buyer, North County Transit District (NCTD), a San Diego public transportation provider, will be developing the land as a vehicle storage site for their operations servicing the residents of San Diego.
Brandon Keith and Jason DiRocco with Voit Real Estate Services represented the seller, a group of private investors.
The undeveloped property was on the market for a period of two years with several long-term escrows that were terminated by the potential buyers. One of which had a $150,000 earnest money deposit forfeited and released to the sellers when they cancelled the transaction after the San Diego County Board of Supervisors passed new regulations which made developing the land more tenuous for the buyer’s specific use.
Two additional offers to purchase were received in early November, both with long escrow timeframes. DiRocco and Keith countered both offers to a higher price and a shorter escrow. The buyer was selected after offering to close the deal within one-week. Final negotiations began, documents were signed by the buyer’s board of directors and the four individual owners, escrow opened within one week and then closed the same day.
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