CBRE Brokers $6M Sale of El Cajon Industrial Property
CBRE has arranged the $6 million off-market sale of a 23,000-square-foot industrial building in El Cajon, CA. The firm’s Matt Pourcho, Matt Harris, Anthony DeLorenzo and Bryan Johnson represented the seller, Chris Nelson with Wavy Properties LLC and Royal Estate Development LLC. The buyer was Samnani Holdings, LLC.
The multi-tenant property is 100% triple net leased among five suites, averaging just over 4,500 square feet in size. The 48-year-old asset was upgraded in 2021 and is located slightly east of Interstate 8 at 635 Front St., just two miles from major retail businesses and Parkway Plaza.
“This was a great example of how out-of-town 1031 capital can continue to perform strongly within San Diego County,” said Pourcho in a news release. “While the property offered negative leverage, there was a nice mark-to-market opportunity for the buyer.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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