Otay Mesa industrial building sold
Erik Parker and Darren Mullins, of Grubb & Ellis|BRE Commercial represented the Deal of the Week buyer.
Marc Lipschitz of Voit Commercial represented the seller. The deal was the sale of the approximately 57,600-square-foot industrial building and a 0.75-acre fenced storage/parking lot in Otay Mesa at 1790 Dornoch Court, San Diego, for $4.68 million. The building was constructed in 1989 on a 3.83-acre lot.
The buyer was John M. Atkinson of San Diego. The acquisition was financed with construction loans of $2.5 million and $2 million from California Bank & Trust, and $2 million from CDC Small Business Finance.
The sale involved a lease to Pacific Maritime Industries Corp. Atkinson is president/secretary of Pacific Maritime.
The seller of the property (assessor's parcel 646-131-16) was Otay Ridge LLC, with William W. Washburn and Michelle L. Washburn as members.
The transaction is the largest owner/user sale in the South County Region year-to-date and represents one of only five sales that have occurred in the Otay Mesa area this year, according to the Grubb & Ellis|BRE brokers.
