An industrial building located at 10808 Willow Court in the Rancho Bernardo area of San Diego, Calif., has been sold for $8.6 million. The 93,646-square-foot building is one of seven in The Crossroads at 4S Ranch multi-tenant industrial park.
The buyer was NSI Crossroads with brothers Richard Kelly and Michael Kelly of First Commercial Corp. as principals. The local business partners are renovating the Maryland Hotel in Downtown San Diego and own The Bitter End, an upscale nightclub in the Gaslamp District.
The seller was The Muller Company and GE Capital.
The property is leased to Gen-Probe, a leader in DNA probe technology and diagnostics.
Mark McEwen of Colliers International represented the buyer. Brian Driscoll, Jay Alexander, and Ryan Grove also of Colliers International represented the seller.
The Crossroads was built in 1990-91 and totals 363,000 square feet on 19.6 acres. Other tenants include General Atomics Aeronautical Systems, TRW and Cymer.
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