The Deal of the Week seller was represented in both transactions by Tom Olson, of the Douglas Wilson Companies.
The buyer represented itself.
The deal was the sale of two San Diego County rock quarries totaling 86.57 acres -- one in El Cajon (photo below)and the other in Lakeside, for $10.6 million.
The buyer of both properties was JJB Silverhawk L.P. of Escondido. The buyer is related to Escondido-based Superior Ready Mix LP.
The sellers of both properties were McGrath Jamacha Road LLC (El Cajon) and McGrath Willow LLC (Lakeside).
McGrath Development Inc. is the manager of both sellers, and Laurie C. McGrath is the president/CEO of McGrath Development. The C.W. McGrath family had owned and operated the quarries since the 1940s.
Title and escrow was provided by Chicago Title.
The 64.75-acre granite pit ($8.75 million) was “grandfathered,” meaning no conditional use permit was required, and located on Jamacha Road in El Cajon.
The property will continue to be mined for crushed rock, rip rap, aggregate base and manufactured sand.
Extensive operating equipment, including rolling stock and processing plants, were included in the sale.
The smaller quarry ($1.85 million) was a grandfathered, 21.82-acre sand mine located on Willow Road in Lakeside.
The property will be mined for sand products.
Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.
SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.
All contents herein copyright San Diego Source ® 1994-2016