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Deal of the Week - Sale

Gateway Center building sold

Jay Diskin of Colliers International was the selling agent in the Deal of the Week. Jeff Brown, Chris Holder and Mickey Morena of Cushman & Wakefield were the listing agents.

The deal was the sale of the 65,300-square-foot industrial building in the SEDC Planned District enterprise zone at 885 Gateway Center Way, San Diego for $7,052,000.

The buyer was Wichita-based CRH, Limited Company, LLC, a Kansas limited liability company qualified to do business in California as CRH Limited Company, LLC, c/o Hinkle Law Firm.

The acquisition was financed with a loan of $5.72 million from Intrust Bank of Wichita.

The sellers of the property were Donald D. Paradise and Patricia L. Paradise, trustees of the Paradise Family Trust.

The flex building was constructed in 1996 on a 4.12-acre lot, which has 132 parking spaces. The building includes 9,000 square feet of office space. The building also has four dock-high loading doors, five grade-level loading doors and a clear ceiling height of 24 feet.

The owner, the Culligan soft water company, is consolidating its operations from Miramar and Lemon Grove into the Gateway Center building.

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