Ashley Furniture HomeStore has purchased a 121,344-square-foot warehouse in the Miramar submarket for $5.67 million, from seller Toppan Electronics.
The two-story warehouse, at 7770 Miramar Road, was a former circuit board manufacturing and distribution center for Toppan, according to a statement from brokerage firm CBRE, which represented the seller.
CBRE and Campbell Realty Advisors Inc. represented the buyer, which plans to renovate the building to operate a 54,067-square-foot showroom and use the remaining 67,277 square feet for warehousing.
The warehouse building, constructed on 5.4 acres in 1974, has been vacant since the Japanese electronics firm moved its local operations to Poway approximately 10 years ago.
— SDBJ Staff Report