The 70,713-square-foot industrial business park, at 474-500 Raleigh Ave. in El Cajon 92020, has been sold for $5.77 million, cash.
The buyer was Propco LP, c/o Lomas Santa Fe Inc., 265 Santa Helena, Suite 200, Solana Beach 92075, Attn.: Patrick Canals.
The seller of the property (assessor's parcel 487-121-88) was M. House Family LP.
Cassidy Turley Managing Director Bryce Aberg and Senior Vice President Brant Aberg -- along with James Renner, president of Inland Pacific Commercial Properties -- represented the seller. The buyer was represented by Rocco Cortese, of Heritage Capital Advisors.
Built in 1971, the property occupies a 4-acre site in downtown El Cajon. It is currently fully leased to tenants including Ametek Inc. and Triumph Fabrications. The new ownership plans to hold the property as an investment.