High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + San Diego  + Industrial  | 

Oceanside Flex Industrial Asset Goes for $9.2M

Connect Industrial is heading to Chicago, June 28th. Here’s where to get more details and register.

Cornwell Business Center, a two-building flex industrial property totaling 49,569 square feet in Oceanside, CA was acquired by San Diego-based Oceanside Avenida Del Oro, LLC for $9.2 million. The asset is situated on 5.71 acres of land at 1945 and 1949 Avenida Del Oro, and was built in 2000.

Cornwell Business Center consists of two single-story buildings, and includes 165 parking stalls. The asset is 95% occupied by eight tenants, the largest being State of California, which occupies 50% of the property.

Faris Lee Investments’ Jeff Conover and Scott DeYoung represented the seller, Phoenix-based Oceanside Equities, LLC. The buyer was represented by Marcus & Millichap.

“This property is located in a dense, in-fill area with opportunity to add value by bringing rents to market rates as they expire,” said Conover. “We received significant investor interest in this asset, and identified a local 1031 exchange buyer as the best offer.”

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Faris Lee’s Conover

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action