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Deal of the Week - Sale

Building on Carroll sold

The Deal of the Week is the sale of the approximately 43,500-square-foot industrial building in the Miramar market at 7420 Carroll Road, San Diego for $5,695,500.

The buyers were Torrey Hills LLC (67 percent) and IND 14 Carroll Road LLC (33 percent), c/o Davlyn Investments of San Diego. The acquisition was financed with a loan of $4,271,625 from Mission Federal Credit Union.

The seller of the property was HITEM Group Management LLC. The members of HITEM are Vinh C. Lam, Tran Vu, Dave Pham, Thai Nguyen and Seton Kasmir.

The entire building is under an Oct. 1 leasehold to Hi-Tech Electronic Manufacturing Corp. Vinh C. Lam is the manager of Hi-Tech.

The two-story building was constructed in 1983 on a 2.72-acre lot.

The building was last sold in September 2013 for $3,724,000, financed with a $2,234,400 loan from Wells Fargo Bank. The building is in the Carroll Business Center and was previously sold in fall 2003 for $5.66 million.

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