Tri-City Corporate Towers, the 64,552-square-foot medical/office property at 3142 and 3156 Vista Way, Oceanside 92056, has been sold for $6.85 million.
The buyer was IPF Tri-City LLC, c/o San Diego-based Fenway Properties LLC, 10525 Vista Sorrento Parkway, Suite 310, San Diego 02121. The buyer is headed by Lawrence S. Jackel. The acquisition was financed with a loan of $7.1 million from RAIT Partnership L.P., c/o RAIT Financial Trust of Philadelphia.
The seller of the property (assessor's parcel 165-192-14) was Tri City Corporate Towers LP, with DEI LLC as its general partner. Katharine S. Issa is a partner in DEI.
The Cassidy Turley team of Mark Avilla, Matty Sundberg and Bob Cowan represented the buyer and seller, and will continue to handle leasing for the property.
The property consists of two four-story buildings on 5.16 acres and has been renamed Pacific Gateway Towers.
The new ownership has begun renovations including 15-foot ceilings, exterior and interior upgrades, common area improvements, and new landscaping and signage.
ID-Studios, a San Diego-based interior design and architecture firm, has been contracted by Fenway Properties for the renovation design and build-out of spec suites. 2