Press Releases

February 2006

The 19,700 square foot commercial building at 5720 Oberlin Drive, San Diego has been sold for $3,152,000.

The buyer was FMG Real Estate, LLC with Dennis W. Fredrickson, Timothy J. Grant and Tomas V. Mazeika as members. Fredrickson, Mazeika & Grant, a law firm currently located in 550 West “C” downtown, will relocate their company to the new Sorrento Mesa facility.

The sellers were the Marshall and Kathy Wax Family Trust and the Price-Wax Family Trust.

Doug Ceresia, CCIM and Marten Barry, Jr., SIOR of NAI San Diego represented the seller. The buyers represented themselves.

Fredrickson, Mazeika & Grant, LLP was founded in 1991. In it’s beginning; the firm was a civil litigation boutique, initially focusing on professional liability, construction law, products liability, personal injury, and general business litigation. Since its inception, the practice has evolved into a full-scale business litigation firm.

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NAI San Diego is pleased to announce the promotions of Larry Edwards, CCIM to Senior Vice President and Doug Ceresia, CCIM to Vice President.

Larry Edwards, CCIM has 25 years of commercial real estate experience in San Diego working with individual, corporate and international clients. Larry’s expertise is owner/user sales and leasing of industrial properties – site selection, lease/buy and cost comparison analysis and investment services. He has completed several clinical laboratory and biomedical transactions. His accomplishments include No. 1 Company Wide Salesperson and President’s Club for Rancon Real Estate and award(s) for CCIM Transaction of the Year. Larry’s $20 Million production in 2005 includes a 21 acre land sale and a $7.2 million industrial exchange.

Doug Ceresia, CCIM with over 9 years of commercial real estate experience, has a successful track record for representation of office investors, tenants and sale & purchase of investment properties. Doug, an SIOR Candidate and 2006 Board Member, has effectively achieved numerous office leasing and sales assignments. A few of his notable transactions include representation of a multiple TIC investment group in the acquisition of The Golden Valley Office Park (69,000 sq. ft. -- $13.6 million); representation of Johnson Matthey, USA in their lease of a 35,000 sq. ft. R&D building ($4.1 million lease value) and structured the sale/acquisition of two office buildings totaling 34,000 sq. ft. with a total transaction value of $7.1 million.

NAI San Diego is proud of Larry’s and Doug’s successful careers, commitment to high ethical standards and professional service to the commercial real estate community of San Diego. Join us in congratulating Larry Edwards, CCIM, Senior Vice President and Doug Ceresia, CCIM, Vice President, on their well deserved promotions.

December 2005

Mission Imprintables, Inc. will be moving from Miramar to Otay Mesa and has leased the remaining 50,337 square feet of the Trepco West Distribution Center at 6060 Business Center Ct., in San Diego, CA 92154, from Paulus Enterprises, LLC. The property leased for 60 months at $1,735,620.00 and will be used for corporate offices, warehousing and distribution of clothing and other printable products.

The Lessee was represented by Patrick Rohan of Burnham Real Estate Services. The Lessor was represented by Larry Edwards,CCIM of NAI San Diego.

November 2005

The North Coast Surgery Center located at 3903 Waring Road, Oceanside, California has been sold for $3,900,000. The property is a freestanding 10,866 square foot surgery center located adjacent to the Tri-City Hospital Complex. The building is 100% leased to North Coast Surgery Center, Ltd. pursuant to a long-term lease. The property was constructed in 1987.

The Buyer was Pacific Property Group, LLC with the Lee Family Trust as its sole member and with Gilbert W. Lee as Trustee. The Seller was Tri-City Ambulatory Surgical Center Investors, Ltd., a California limited partnership, c/o HealthSouth Corporation. Financing in the amount of $2,783,000 was provided by GE Commercial Finance.

The Seller was represented by Tom Olson of Coldwell Banker Commercial Real Estate. The Buyer was represented by Doug Ceresia, CCIM of NAI San Diego.

Title and escrow were handled by Stewart Title Company of California. Financing arrangements were handled by Bruce Stirling of Pathfinder Mortgage.

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The 2,600 square foot industrial condominium in the Miralani Bluffs Business Park at 7920 Arjons Drive, Unit G in San Diego has been sold for $550,000.

The Buyer was the Rodenbeck Family Trust with Kevin and Amy Rodenbeck as Trustees. Rodenbeck, an office furniture manufacturer's rep group, will occupy the new facility.

The Seller was Ron Savage, Trustee of the John Savage Trust.

Steve Willhite, SIOR, of NAI San Diego represented the Seller. The Buyer was represented by Doug Ceresia, CCIM, also with NAI San Diego.

Rodenbeck is an independent manufacturer rep group formed in 1979 and is based out of the Pacific Design Center in Los Angeles, California. Currently they represent 10 contract furniture manufacturers offering products for the corporate, healthcare, hospitality and GSA markets. Southern California, Arizona, New Mexico, Las Vegas, and Hawaii. They also work with GSA and Hospitality accounts in Europe, Asia and the Pacific Rim.

September 2005

GOLDEN VALLEY OFFICE PARK IN MISSION VALLEY - SOLD FOR $13,650,000

The four building, 69,000 square foot Golden Valley Office Park on 4.92 acres at 123 Camino de la Reina in Mission Valley, San Diego 92108 has been sold for $13,650,000.

The Buyers, an investment group managed by NAI San Diego, are Mission Grove Offices LLC (54.0974%), John Anewalt, LLC (15.5533%), Mary Anewalt Perrine, LLC (15.5533%) and Woodside Avenue, LLC (14.7960%). The manager of Mission Grove Offices LLC is San Diego Commercial Management, LLC, with Marten Barry and Mark Silverman as managers. John Anewalt and Mary Perrine are the managers of their respective LLC’s and Marten Barry is the manager of Woodside Avenue, LLC.

NAI San Diego (formerly San Diego Commercial Real Estate Services) will relocate it’s San Diego headquarters into the office park and will provide leasing and management services. Other tenants include Remington College, The Zoological Society of San Diego, Copley News Service and The San Diego Union Tribune.

The acquisition was financed with a loan of $7,200,000 from Morgan Stanley Capital Markets, arranged by Jeff Hudson, CEO of the George Elkins Company. The Seller of the property was Valle de la Reina LTD, with Sunbelt Real Estate as its general partner.

NAI San Diego brokers Doug Ceresia, CCIM, Mark Silverman, SIOR and Marten Barry, SIOR represented the Buyers. Don Agan of Voit Commercial represented the Seller. The escrow agent for the transaction was Marie Berry a Certified Senior Escrow Officer, and the title agent was Mark Brady, both of Chicago Title.

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Ron Ketchum, dba Escondido Cycle Center purchased 2346 Meyers Avenue in San Diego, from The Walter Carle Trust. The 10,700 square foot industrial building sold for $1,857,000.

Jason Smithson and Tom Blackmore of NAI San Diego represented the Buyer. Pat Wakeman of Lankmark Realty Group represented the Seller.

August 2005

The Randy and Susan Eifler Revocable Trust, DBA Spec Built Systems, Inc. has purchased the approximate 70,200 square foot industrial building addressed as 2150 Michael Faraday Drive in San Diego 92154, Otay Mesa for $4,300,000. In a related transaction the Eiflers recently sold its 25,000 square foot National City manufacturing facility for $2,925,000 to Ehmcke Sheet Metal Corporation.

Spec-Built Systems Inc. manufacturers naval shipboard furniture and metal products. It is consolidating its National City manufacturing facility and an automated powder coating line in Chula Vista to the Otay Mesa building.

Larry Edwards, CCIM, of NAI San Diego, represented the Eiflers in the sale of its National City property and the purchase of the Otay Mesa facility.

July 2005

A 21.64 acre (gross) parcel in Otay Mesa along the Mexican border at 1755 - 1759 South Cactus Road, San Diego 92154, has been sold for $5 million.

The Buyers were Managing GP Inc. (29.5%), VCH No. 1 LP (69%), and Richard K. and Jacquelyn J. Willis as trustees of a trust (1.5%). Gregg Hamann is an officer of Managing GP and Hamann Consolidated Inc. is the general partner of VCH, 1000 Pioneer Way, El Cajon 92020.

The acquisition was financed with a loan of $1.3 million from California Bank & Trust.

The Seller of the property (APN: 667-050-62) was La Salle Investments, headed by J.R. La Salle, F.B. La Salle, and D.A. La Salle.

The 18.53 acre (net) property, known as the La Salle Truck Park & Storage Otay Mesa, consists of 9.07 acres of 261 existing truck stalls, 6.46 acres of proposed 145 truck stalls and 3 acres of future development.

Larry Edwards, CCIM, of NAI San Diego represented the Seller. The Buyers represented themselves.

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Plaza 2020, located at 2020 Camino Del Rio North, is one of Mission Valley's premier office buildings. With 10 stories and over 108,000 square feet, Plaza 2020 has a commanding presence in the Mission Valley sub market.

In early 2000, the current owner (Area 8, LLC), purchased the former Veteran's Affairs building, now known as Plaza 2020. Area 8, LLC dedicated nearly $7 million dollars to renovate the building's interior facility and exterior finish. Today, this Class A office building offers a high profile presence and corporate image.

Plaza 2020 is centrally located and provides excellent freeway accessibility and is in walking distance of the trolley line and Mission Valley Mall. In addition, restaurants, cafes, financial institutions and other retail/service providers are in close proximity to provide a very work-friendly environment for Plaza 2020 tenants.

Inside the building, tenants value the high quality standard office finishes; most suites include kitchenettes with sinks. Amenities include 3 high-speed elevators, an after-hours call box, high-speed computer access, showers and lockers. An on-site building engineer and day porter are available to handle day-to-day tasks and tenant needs. Plaza 2020 is now 100% leased and some tenants include: New England Financial, Financial Services of Southern California, LLC, Taylor Frager, Inc., Lincoln Financial, Centex Home Equity, and Mission Federal Credit Union.

Plaza 2020 is professionally managed by Kari Fick of NAI San Diego. The leasing agent for the property is Doug Ceresia, CCIM, also of NAI San Diego.

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Hamann Consolidated Inc., a California Corporation has purchased 18.53 acres of land located at 1755 South Cactus Road, San Diego, CA 92121 from La Salle Investment, a California Corporation for $5,000,000.

Larry Edwards, CCIM, of NAI San Diego represented the Seller. The Buyer represented itself.

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The Republican Party of San Diego has leased 2,639 square feet of office space at 5703 Oberlin Drive, Suites 107 and 109, San Diego, CA 92121 from Mr. and Mrs. Georges. The property, leased for 6 years at $301,063, will be used for the Republican Party's Corporate Headquarters in San Diego County.

Doug Ceresia, CCIM of NAI San Diego represented the Lessee and the Lessor represented itself.

April 2005

Jeff Winter of Howard Industries purchased a 26,090 square foot industrial building in the Escondido Industrial Park located at 2140 Enterprise Street, Escondido, CA for $2,767,500.

Tom Blackmore and Jason Smithson of NAI San Diego represented the Seller, Blackmore and Hoyle Investments. Tom Blackmore also represented the Buyer, Howard Industries.

January 2005

LA Weight Loss Center have leased 1,222 square feet of office space at Plaza 2020, 2020 Camino Del Rio North, San Diego, CA 92108 from Area 8, LLC. The property, leased for 60 months at $220,179.24, will be used for fitness and weight management services.

The Lessee was represented by Brad Jones of CB Richard Ellis. The Lessor was represented by Doug Ceresia, CCIM of NAI San Diego.

July 2004

Jamel and Janet Cherif with Children's Creative & Performing Arts Academy of San Diego have purchased a 8,715 square foot school site at 1375 East Washington, El Cajon, California 92019 from the White Family Trust. The purchase price was $1,275,000.00.

Tom Nicholas with Colliers International represented the Buyer. Doug Ceresia, CCIM, and Mark Silverman, SIOR, with San Diego Commercial Real Estate Services, represented the Sellers. The Title Officer was Brad Roppe with Stewart Title and escrow services were provided by Paula Mraz and Shelva Molm with Chicago Title and Escrow.

The school was founded in 1970 by Allan and MarJean White who had envisioned a nurturing environment where children would grow socially and emotionally, and develop a thirst for knowledge that would prepare them for future success. The new owners plan to adopt a Montessori based curriculum and add new programs including arts and music.

June 2004

Davlyn Investments has purchased a 30-unit apartment building located at 9210 Kenwood Drive, Spring Valley, California 91977 and a 16-unit apartment building located at 524 East Lexington, El Cajon, California 92020 from the Schuff Family Trust. The total purchase price was $4,950,000.00.

The Seller was represented by Claudia Hartman of San Diego Commercial Real Estate Services.

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Richard Klein has purchased a 7,700 square foot industrial building at 349 North Vinewood, Escondido, California 92029 from Al Trevisan. The purchase price was $924,000.00.

The Buyer was represented by Tom Blackmore of San Diego Commercial Real Estate Services. The Seller was represented by Don Zech of CDC Commercial.

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Phil Cannirito has purchased a 3,700 square foot industrial building at 540 Opper Street, Escondido, California 92029 from Richard Klein. The purchase price was $625,000.00.

The Buyer was represented by Howard Zatkin of Colliers International. The Seller was represented by Tom Blackmore of San Diego Commercial Real Estate Services.

May 2004

California State Abrasives have leased 24,014 square feet of industrial space at 2445 Cades Way, Vista, California 92083 from MAU Investors. The property, leased for 36 months at $492,274.00, will be used as a distribution center for abrasive products.

The Lessee was represented by Tom Blackmore of San Diego Commercial Real Estate Services. The Lessor was represented by Jim Spain and Josh McFayden of Colliers International.

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Champagne Realty & Financial Group have leased 2,754 square feet of office space at Plaza 2020, 2020 Camino Del Rio North, San Diego, 92108 from Area 8, LLC. The property, leased for 12 months at $82,620.00, will be used for residential real estate brokerage services.

The Lessee was represented by Bill Champagne of Champagne Realty. The Lessor was represented by Doug Ceresia, CCIM of San Diego Commercial Real Estate Services.

July 2003

On July 15, 2003, Alt’s Tool & Machine, Inc. purchased 5.44 acres of vacant land located at 10926 Woodside Avenue North, Santee; Assessor’s Parcel Number: 381-670-09. The land was purchased from The Redevelopment Agency of The City of Santee for $2,251,177.00.

Alt’s Tool & Machine, Inc. is a manufacturer of high temperature internal turbine engine components, high end super computer chassis, tooling and EDM parts. Currently operating in three separate buildings Alt’s Tool & Machine will be moving into a 90,000 square foot build-to-suit, which is expected to be complete December 9, 2003.

The City of Santee is a dynamic young community nestled in the rolling hills of the San Diego River Valley, with family based neighborhoods, award winning schools and parks, and one of the lowest crime rates in the region. The City also offers a strong local economy with a pro-business environment, well-maintained infrastructure, excellent economic indicators, and access to three regional freeways, with transit linkage to downtown San Diego by trolley.

Mark Silverman, SIOR, Vice President of San Diego Commercial Real Estate Services represented the Seller and Vince Gumina represented the Buyer in the transaction.

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Paulus Enterprises LLC has purchased the approximate 6.71 Acres of industrial land in Otay Mesa for a total consideration of $2,192,157: parcel no’s: 645-190-09, 10, 11 and 645-280-05, 06, 07. The property is located within the Ocean View Hills Corporate Center, Otay Mesa, San Diego 92154. Wail J. “Al” Paulus is Managing Member of Paulus Enterprises LLC and also President of Trepco West - a wholesale distributor of groceries and provisions for convenience stores. Construction is to commence this fall of an approximate 125,000 sq. ft. distribution center to include the new headquarters facility for Trepco West.

Larry Edwards, CCIM, of San Diego Commercial Real Estate Services, represents Paulus Enterprises LLC. Jerry Sarazin, SIOR, of Colliers International represented the Seller, M & E Devco LLC.

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Industrial: Jean Marie Balph Hyde has purchased an 11,707 square foot building at 2442 Cades Way, Vista 92081 from Gold Coast Audio Visual, Inc for $1,211,674. This transaction included Jeannie Hyde Packaging, Inc. leasing 7,169 square feet for 24 months for a total consideration of $137,645 and Gold Coast Audio Visual, Inc. leasing 4,538 square feet for 24 months for a total consideration of $87,130.

Jean Marie Balph Hyde and Jeannie Hyde Packaging, Inc. were both represented by William McCubbin of San Diego Commercial Real Estate Services. Gold Coast Audio Visual, Inc. was represented by David Onosko, Ron King and Joe Crotty of Coldwell Banker Commercial-North County Properties.

April 2003

Johnson Matthey, Inc. has signed a lease on a research and development building consisting of 35,094 square feet located at 12205 World Trade Drive, Carmel Business Center, from H.G. Fenton. The property will be leased for 10 years at $4,050,000.

The Lessee was represented by Doug Ceresia and Marten Barry, Jr., SIOR of San Diego Commercial Real Estate Services. The Lessor was represented by Chris Pascale and Larry Jackel of CB Richard Ellis.

Johnson Matthey, Inc., whose parent company is headquartered in London, has operations in 34 countries and employs approximately 7,000 people. Its products are sold across the world to a wide range of advanced technology industries. Johnson Matthey is listed on the FTSE 100 (Financial Times Stock Exchange 100), the senior index in Great Britain. The parent company’s 2002 Fiscal Year End report sales are in excess of $6.8 billion, which reflects a 1 year sales growth of 17.6%.

Johnson Matthey's industry leading metallurgical expertise, combined with their superior capabilities in the research and development of precision forming and machining, further strengthen their high tech advantage over its global competitors. Johnson Matthey's commitment to the development of superior, high tech medical components will be greatly enhanced by the new state of the art manufacturing facility in San Diego.

The size and scope of the investment being made by Johnson Matthey into the San Diego community is exceptional. While many local corporations are downsizing or leaving the region altogether, Johnson Matthey is making a considerable, long-term investment in the local operations and personnel. Once fully operational, the San Diego facility will employ over 70 highly skilled individuals.

February 2003

A 4,900 square foot commercial building on a 15,000 square foot lot located at 9143 Mission Gorge Road, Santee closed escrow February 6, 2003. Ruth Roth and Peggye Caplin purchased the property from Victor and Karen Maidhof for $545,000.00. Assessors Parcel Number: 383-124-13.

Mark Silverman, SIOR, Vice President of San Diego Commercial Real Estate Services represented the Seller in the transaction.

January 2003

On January 14, 2003, Mr. Lawrence Maio purchased an apartment building located at 2735 Commercial Street, San Diego, CA 92113. The property consist of fourteen (14) units (12 studios and 2 1+1). The property was purchased from Roger and Sandy Schnieders for $750,000.00. Assessor’s Parcel Number: 535-695-005

Claudia Hartman, Associate Vice President of San Diego Commercial Real Estate Services represented both Buyer and Seller in the transaction.

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On January 13, 2003, Dat Vu purchased an apartment building located at 4110 Van Dyke Avenue, San Diego, CA 92105. The property consist of nine (9) units (2 studios- 4:1+1-2:2+1). The property was purchased from Brian and Mary Lemke for $565,000.00. Assessor’s Parcel Number: 471-352-018

Claudia Hartman, Associate Vice President of San Diego Commercial Real Estate Services represented the Seller and Dennis Leslie from Marcus & Millichap represented the Buyer in the transaction.