Local Firm Buys Industrial Buildings for $4.4 MillionTuesday, August 27, 2013
Solana Beach-based investment company SR Commercial has purchased two local industrial properties for a total of $4.4 million from private investors, bringing its recent acquisition total to 14 properties valued at $60 million in the past 24 months.
A company statement said SR Commercial acquired a 19,344-square-foot multitenant building at South Otay Mesa Business Park for $1.6 million; and a 63,126-square-foot property in Temecula for $2.8 million.
Officials said SR Commercial plans significant upgrades of the Temecula property, at 42259 Rio Nedo. The San Diego property is at 8662 Avenida De La Fuente in Otay Mesa.
The company was represented by CBRE Inc. in the Temecula deal and by Colliers International in the San Diego transaction.
SR Commercial, led by principals Adam Robinson and CJ Stos, invests in Southern California industrial and office properties, and also provides third-party management services.
— SDBJ Staff Report