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.