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Building on Kirkham in Poway sold

The 56,386-square-foot industrial building and its 3.3-acre corner lot, at 12250 Kirkham Road in Poway 92064, has been sold for $6.15 million, cash.

In separate but consecutive transactions, the building was sold for $4.3 million and the lot for $1.85 million.

The buyer of the building was Muirlands Investments LLC, 3200 Highland Ave., B4-2, National City 91950, Attn.: Leonard Teyssier. The buyer of the lot was Atomic Investments Inc. at the same address.

The seller of the property (assessor's parcel 317-223-01) was Ocean Terrace L.P., formerly known as Star Pine Investments L.P., a successor by merger to Ocean Terrace L.P. Aguila Descalza Inc. is general partner of the buyer, Ocean Terrace, and Carlos David Malamud is the president and secretary of Aguila.

Brian Mulvaney, senior vice president and Josh West, associate -- both in Voit Real Estate Services' San Diego office -- represented the buyer.

According to Mulvaney, “Atomic Investments acquired the 50-percent leased property on a speculative basis, understanding that there is a very limited supply of available options in the 20,000 to 30,000 square-foot size range in the Poway submarket.”

The building was constructed in 1988 and sold in late 1989 for $3.45 million.

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