SR Commercial Buys Morena Business CenterSunday, June 1, 2014
SR Commercial, a privately held commercial real estate investment company, bought Morena Business Center, a 62,814-square-foot flex industrial park on 6.26 acres in central San Diego, according to a news release.
Morena Business Center consists of three buildings at 2620, 2640 and 2645 Financial Court, just east of Interstate 5 in the Morena submarket. Key tenants include Destination Concepts, American Geotechnical, Solar West Electric and Envision.
The purchase was done with $6 million in financing arranged by Holliday Fenoglio Fowler LP, which placed the fixed-rate, nonrecourse loan with RGA Reinsurance Co. The HFF team representing SR Commercial was led by director Zach Koucos and senior managing director Aldon Cole.
SR Commercial’s corporate office is in San Diego, and its principals have close ties to Orange and Los Angeles counties, according to the release, which was issued by HFF.