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Flex building on Stowe Drive in Poway sold

The approximately 72,380-square-foot flex industrial/warehouse building at 13450 Stowe Drive, Poway 92064, has been sold for $12.7 million, cash.

The buyers were Dan McKinney Co. (83 percent), Robert W. Schulze and Molly McKinney Schulze, co-trustees of the Schulze Revocable Trust (11 percent) and Peckham Properties Inc. (6 percent), c/o SENTRE Partners, 401 W. A St., Suite 2300, San Diego 92101.

The seller of the property (assessor's parcel 317-280-47) was Walton/Greenlaw Poway Holdings VI, L.L.C. Walton Street is a Chicago-based private equity real estate investment firm.

The building is fully occupied by a manufacturer of carbon fiber golf club shafts, Aldila Inc., which was acquired by Mitsubishi Rayon America Inc. (MRA) in April 2013. MRA is a wholly-owned subsidiary of Mitsubishi Rayon Co., Ltd. (MRC) and part of the Mitsubishi Chemical Holdings Corp. group.

The tenant has about eight years remaining on its lease.

The building has a clear ceiling height of 22 feet and five ground-level loading doors. The building was constructed in 1991 on a 4.3-acre corner lot at Crosthwaite Circle.

The seller acquired the property in late 2012 for $7.2 million, cash.

The approximately 72,380-square-foot flex industrial/warehouse building at 13450 Stowe Drive, Poway 92064, has been sold for $12.7 million, cash.

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