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Building in Oceanside on Oceanic

The 11,202-square-foot industrial condominium building at 3907 Oceanic Drive, Oceanside 92056, has been sold for $1,086,594.

The buyer was Continental Machining & Tools Inc., 3919 Oceanic Drive, Suite 702, Oceanside 92056. Phong Dang is president of Continental Maching.

The acquisition was financed with a loan of $968,000 from JPMorgan Chase Bank (NYSE: JPM).

The buyer had been leasing the property for 10 months at the time of sale. Prior to that lease, Continental Machining occupied 2,206 square feet at 3820 Oceanic Drive, Suite 315, under a summer 2004 lease for 24 months at $44,604.

The seller of the property (assessor's parcel 160-680-21-01) was Hansen Commercial Investments LLC, an Oregon limited liability company with Tracy C. Hansen as the managing member.

The buyer was represented by Stephen Crockett, of Lee & Associates. The seller was represented by Bob Willingham and Ron King, of Cushman & Wakefield.

The building was constructed in 2005 and is located in the Ocean Ranch Corporate Center. The building has two grade-level doors, one loading dock and a 22-foot clear height ceiling.

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