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Single-tenant industrial building on Aero Court sold

The 14,427-square-foot, single-tenant industrial building at 3555 Aero Court, San Diego 92123, has been sold for $4,095,000.

The buyer was Philip A. Belling successor trustee of the Geraldine B. Belling Family Trust, c/o LBA Realty, 17901 Von Karman Ave., Suite 950, Irvine 92614, attention: Tom Rutherford.

The seller of the property (421-040-08) was Kensington Properties LLC, with Thomas Edward Hoskins manager. The seller acquired the property in January 2008. The buyer was represented by Mark McEwen, of Colliers International. The seller was represented by David Dilday, of American Pacific Investments.

McEwen said, “(The buyer) jumped at the chance to purchase this asset with a signed fifteen-year lease to Loomis Armored to complete an internal 1031 Exchange requirement. Loomis occupied [its] previous facility in San Diego for 60 years.”

The building was constructed in 2005 on its 2.2-acre lot.

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