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Warehouse building on Crosthwaite in Poway sold

The 15,500-square-foot warehouse building, at 12267 Crosthwaite Circle in Poway 92054, has been sold for $2.4 million.

The buyer was Terra Real Properties, c/o LeMans Corporation, PO Box 5222, Janesville, WI 53547. Mark Scharenbroch is the manager of Terra. The new ownership plans to occupy the building.

The acquisition was financed with a $1.92 million loan from LeMans Corp.

The seller of the property (assessor's parcel 317-810-13) was Crosthwaite Properties LLC, a California limited liability company, with members C. Eric Swadell and Stephanie Lynne Swadell, as co-trustees of a 2003 trust; Steven H. Swadell, as trustee of a 2005 trust; and Sheila L. Swadell.

Mickey Morera and James Duncan, of Cushman & Wakefield, represented the seller.

The 15,500-square-foot building was constructed in 1998 and occupies a 38,768-square-foot lot. The building consists of approximately 50 percent office and 50 percent warehouse. The property features skylights throughout the building, one grade-level door, a 21-foot clear height and a full sprinkler system.

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