San Diego Business Journal

SR Commercial Buys Industrial, Office Properties for $6 Million

By Lou Hirsh Monday, February 24, 2014
SR Commemrcial is the new owner of this office building on Sky Canyon Drive in Murrieta. (Photo courtesy of SR Commercial)

SR Commemrcial is the new owner of this office building on Sky Canyon Drive in Murrieta. (Photo courtesy of SR Commercial)

SR Commercial of Solana Beach has bought an Escondido retail-industrial property and a Murrieta office building for $6 million.

SR Commercial acquired the Escondido property, consisting of two buildings at 2120 and 2122 W. Mission Road, for $3.1 million, company officials said. The property, known as Nordahl Center and totaling 40,154 square feet, will be renamed Gateway@Mission.

The Escondido property, encompassing 2.11 acres, is 66 percent occupied by 11 industrial tenants.

SR Commercial also acquired a 39,140-square-foot, two-story office building at 38670 Sky Canyon Drive in Murrieta for $2.9 million. The property was built in 2008 as a speculative development and is vacant, although SR Commercial has secured an undisclosed 10-year tenant for the ground floor.

The seller in both transactions was a private investor. The deals were brokered by Cassidy Turley, Colliers International and Coldwell Banker Commercial.

Renovations are planned at both locations, officials said.