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Leasing Notes

Office building in EC leased

Leasing Notes are updated twice weekly and are now available in a fully searchable database format at www.sddt.com/databases/leasingnotes/.

Office: Cal Western Reconveyance has leased the 25,200-square-foot office building at 525 E. Main St., El Cajon 92021, from Stanley Kramer, trustee of the Kramer Family Trust. The one-story building was leased for 60 months at $1,527,700.

The lessee was represented by Tim Cowden, of Colliers International.

The lessor was represented by Kipp Gstettenbauer and Kyle Clark, of Cushman & Wakefield.

Cal Western is a national company servicing foreclosures for lenders in 10 western states.

The building was constructed in 1951 on a 2.15-acre lot.

The property was sold in December 2009 for $3.6 million by the Moss Family Trust, with Gerald R. Moss co-trustee. He is also founder of Cal-Western Reconveyance.

At the time of the sale, Cal-Western had been the sole occupant of the building for 14 years.

The transaction involved a new five-year NNN lease with annual CPI increases and two five-year options.

The acquisition by the Kramer Family Trust was financed by a $2.6 million loan from Pacific Capital Exchange Services Inc., as qualified intermediary for the Moss Family Trust.



Retail: Sergio Becerra Ramos has leased the 2,100-square-foot free-standing restaurant building at 8918 Carlton Hills Blvd., Santee 92071, from Maria D'Anna. The former Italia Ristorante, leased for five years at $256,000, will be used for a 70-seat-plus Mexican restaurant.

The lessee represented himself. The lessor was represented by Bill Thaxton, of Flocke & Avoyer Commercial Real Estate.



Industrial: Machine Tools Supply Inc. has leased 4,162 square feet of industrial space at 9530 Chesapeake Drive, San Diego 92123, from RREEF America LLC. The property, leased for 60 months at $232,100, will be used for a warehouse.

The lessee was represented by Philip Roberts and James Duncan, of Cushman & Wakefield.

The lessor was represented by Sean Williams, of CBRE (NYSE: CBG).



Office: Jan Medical has leased 1,018 square feet of office space in the 25,612-square-foot Poway View Executive Center at 12975 Brookprinter Place, Suite 150, Poway 92064, from Brookprinter Development. The property, leased for 26 months at $139,040, will be used for a general office.

The lessee and lessor were represented by Chruis Williams, of Colliers International.



Office: Rancho Hills Christian Church has leased 1,351 square feet of office space at 637 Third Ave., Chula Vista 91910, from 637 Third Avenue LLC. The property was leased for 60 months at $130,218.

The lessee and lessor were represented by Kyle Clark and Kipp Gstettenbauer, of Cushman & Wakefield.



Office: Amy Lyons has leased 1,136 square feet of office space at 3138 Roosevelt St., Carlsbad 92008, from Lucas Tyler Properties LLC. The property was leased for 48 months at $79,400.

The lessee and lessor were represented by Amy McNamara, of Cushman & Wakefield.



Editor's Note: Leasing Notes for publication must contain the names of the lessee and the lessor; address (including street name and number, city and zip code); square footage; length of lease; lease terms such as NNN; financial consideration; proposed use of space (if not evident from name of lessee); and the names of brokers and their firms representing both the lessee and the lessor.

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