Escondido Industrial Properties Sold for $7.8 MillionMonday, August 11, 2014
Meridian Properties Real Estate Development of Carlsbad recently purchased two Escondido industrial buildings for approximately $7.8 million, according to CoStar Group and public data.
The seller of the buildings, totaling 61,940 square feet at 950 and 955 Borra Place, was recorded as 950 Borra Place LLC and 955 Borra Place LLC of La Jolla. Greg Pieratt, of brokerage company Lee & Associates, represented the seller.
The properties were built in 1991 and 1997 and were fully leased at the time of sale, by Lisi Medical Jeropa Inc. and BMT Scientific Marine Services Inc.
According to Lee & Associates, Meridian Properties during escrow sold the building at 955 Borra Place to a third-party buyer, Gunter Family Trust, for $5.1 million. Lee & Associates’ Isaac Little and Marko Dragovic represented the buyer in that transaction.