FOR IMMEDIATE RELEASE
SAN DIEGO (May 16, 2011) – Inland Pacific Commercial Properties and Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced the sale of Center Pointe Business Park in El Cajon. The sale price was undisclosed.
Located at 1280, 1290, 1300 and 1400 North Johnson Avenue and 750 and 900 Vernon Way, the industrial multi-tenant property was built in 2001 and consists of six buildings totaling 245,101 square feet. The project is situated just blocks from Interstate 8, Parkway Plaza (a regional shopping mall) and the Gillespie Field Airport.
The buyer was an affiliate of Westport Capital Partners LLC and the seller was Centerpointe I and Centerpointe II.
Westport Capital Partners LLC is a real estate-focused institutional investment management firm with offices in Wilton, CT and El Segundo, CA. The firm’s global focus is on opportunistic and distressed investments.
Bryce Aberg, SIOR and Brant Aberg of Cassidy Turley BRE Commercial as well as James Renner and Robbie Cornell of Inland Pacific Commercial Properties represented both the seller and buyer in the transaction. Scot Eisendrath of Cassidy Turley BRE Commercial’s Financial Advisory Services Group provided financial expertise.
“The completion of both the 52 Freeway and Highway 125 offers this high-quality project the opportunity to compete with all other central San Diego markets,” said James Renner. “As the largest project in East County and the only industrial sale in San Diego County year-to-date of this size and availability, it is no surprise that we engaged in a very detailed sales process to find the right buyer for the property. We are confident that we found the perfect match,” added Bryce Aberg.
For more information about leasing opportunities at Center Pointe Business Park, please contact James Renner at 619.596.1880 or Bryce Aberg at 858.546.5462.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,000 professionals in 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley. Cassidy Turley provides regional real estate services with local San Diego market leader Cassidy Turley BRE Commercial. The company’s dominant market presence includes more than 160 professionals and staff in five local offices and recorded nearly $1.2 billion in transactions in 2010. For more information about Cassidy Turley BRE Commercial, please visit www.brecommercial.com.