The approximately 59,760-square-foot flex industrial/warehouse building in Otay Mesa at 8709 Kerns St., San Diego 92154, has been sold for $4,004,000.
The buyer was Johnson Warehouse-Otay LLC c/o Johnson Properties, 7009 S. Jordan Road, Centennial, CO 80112. The managing members of Johnson Warehouse-Otay are Mark K. Johnson and Johnson Storage & Moving Co. Holdings L.L.C.
Mark Johnson is managing member of Johnson Storage & Moving. The acquisition was financed with loans of $2 million and $1.6 million from Plaza Bank.
The property is under leasehold to Denver Moving & Storage L.L.C. The manager of Denver is Johnson Properties GP L.L.C., with and Johnson Storage & Moving as a member. Mark Johnson and James R. Johnson are managing members of Johnson Properties GP. The seller of the property (assessor's parcel 667-071-26) is BIT Holdings Seventy Inc., with David L. Schenning as vice president.
Greg Kelly and Bob Mooney, of Cassidy Turley San Diego, represented the buyer. Shane Harmon, of Colliers International, represented the seller. Gary Goss, also with Cassidy Turley, arranged the loans. The building was constructed in 2003 on 4.54 acres.