The approximately 29,158-square-foot building in Kearny Mesa at 7191 Engineer Road, San Diego 92111, has been sold for $4,775,000, cash.
The buyer was FRE 590 LLC, a California limited liability company c/o Seyfarth Shaw LLP, 333 S. Hope St., Suite 3900, Los Angeles 90071, Attn.: Richard Mendelson, Esq.
The seller of the property (assessor's parcel 356-380-51) was GLE-I LLC, a California limited liability company. The J. David Gladstone Institutes, a charitable trust, is the managing member of GLE-I. Richard D. Jones, Albert A. Dorman and Andrew S. Garb are trustees of the Gladstone Institutes.
In mid-2012, KSWB Inc. (Fox 5 television studio) leased 24,804 square feet of industrial space at 7191 Engineer Road from Gladstone Institutes for 60 months at $1.82 million.