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Building on Sorrento Valley sold

The 39,406-square-foot Army Reserve Armory Building -- at 11620-11630 Sorrento Valley Road, San Diego 92121 -- has been sold for $7,025,000.

The buyer was 11620-11630 Sorrento Valley Road LP, 10752 Quadrille Place, Santa Ana 92705. Santa Maria Building Materials Corp. is the general partner of the buyer and William V. Peckham is president of Santa Maria.

The acquisition was financed with a loan of $5,268,000 from City National Bank.

The sellers of the property (assessor's parcel 310-080-26) were Greens Valencia LLC (93.53 percent) and Bold Rider LLC (6.47 percent). Zan Marquis is manager of both sellers.

Cushman & Wakefield's Mark Lewkowitz and Mickey Morera represented the buyer. CFI of San Diego’s Jim Marsh and John Lanza represented the seller.

The property was built in 1963 and renovated in 2006. The building is currently fully occupied by the federal government.

The freestanding one-story building consists of office and warehouse space on 3.92 acres.

The property was sold in March 2007 for $7.5 million, with financing of $5,625,000 from Artesia Mortgage Capital Corp.

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