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Thursday, Mar 28, 2024
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Spring Valley Industrial Park Sold for $12.25M

Dentt Properties, a San Diego-based real estate investment and development firm, has sold a 94,698-square-foot industrial park in Spring Valley for $12.25 million.

A company statement released Aug. 23 said the five-building industrial park was 98 percent leased to 45 tenants. The industrial park, located at 2731-2739 Via Orange Way, was sold to Monica Handler Penner.

The transaction was part of a 1031 exchange, which under federal tax rules allows deferment of capital gains or losses related to the sale of certain types of property.

Dentt Properties is “seeking to acquire a quality core multi-tenant industrial asset” with proceeds from the sale, the statement said.

Ryan Dentt, a principal in the company, said Dentt Properties is in the process of “growing and restructuring” its real estate portfolio to add value.

Dentt Properties represented itself in the transaction, and the buyer was represented by ECP Commercial. Dentt Properties owns and manages more than 800,000 square feet of industrial, office, retail and medical assets throughout San Diego County, the statement said.

— Lou Hirsh

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