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Buildings in El Cajon on Jamacha sold

Granite Hills Professional Plaza, the 18,660-square-foot, office property at 850-860 Jamacha Road, El Cajon 92019, has been sold for $3 million.

The buyers were Rancho Realty Investments LLC (1/3 interest) and FB Riviera LLC (2/3 interest). Frank Barka is the managing member of FB Riveria, and Noori E. Barka is the managing member of Rancho Realty.

The acquisition was financed with a loan of $1.8 million from Wells Fargo Bank (NYSE: WFC).

The seller of the property (assessor's parcel 514-450-39) was Eklund Investment Group LLC, with Don Eklund as the managing member.

The buildings were constructed in 1990 on 1.39 acres.

The property was sold for $3,825,000 with financing of $2,677,500 in May 2006, and for $3,475,000 in June 2005 with financing of $2.36 million.

Unilab Corp., dba Quest Diagnostics, leased 1,652 square feet in late 2010 for five years at $158,426.

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