Deal of the Week

 

January 31, 2014

September 23, 2014


Leaseback in El Cajon

The lessor in the Deal of the Week was represented by Kipp Gstettenbauer and Kyle Clark, of Cushman & Wakefield.

The lessee was represented by Tim Cowden, of Colliers International.

The deal was a lease by Cal Western Reconveyance of the 25,200-square-foot office building at 525 E. Main St., El Cajon, for 60 months at $1,527,700. The lessor was Stanley Kramer, trustee of the Kramer Family Trust.

Cal Western is a national company servicing foreclosures for lenders in 10 western states.

The one-story building was constructed in 1951 on a 2.15-acre lot.

The property was sold in December 2009 for $3.6 million by the Moss Family Trust, with Gerald R. Moss as the co-trustee. He is also founder of Cal-Western Reconveyance.

At the time of sale, the company had been the building's sole occupant for 14 years.

The acquisition by the Kramer Family Trust was financed by a $2.6 million loan from Pacific Capital Exchange Services Inc., as qualified intermediary for the Moss Family Trust.

The transaction involved a new five-year NNN leaseback with annual CPI increases and two five-year options.

The lessor in the Deal of the Week was represented by Kipp Gstettenbauer and Kyle Clark, of Cushman & Wakefield.


 

January 31, 2014

September 23, 2014