Two million square feet acquired near San Diego

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Grubb & Ellis/BRE Commercial recently brokered the sale of three industrial and multifamily properties totaling more than 2 million square feet in San Diego County, Calif. The total value of the transactions was $9.8 million. In the first transaction, NOVI Discovery LLC sold a 304,920-square-foot industrial building located at San Marcos Boulevard and Discovery Street in San Marcos. Markstein Beverage Co. purchased the asset for $4.6 million. In the second deal, Jack Lin sold a 1.74 million-square-foot multifamily property in Bonsall for $4 million. Mehrdad Safari purchased the nearly 40-acre property as an investment, which is located at NEC Gird and Pala Road. In the final transaction, the The Napierski Family Trust sold a 27,422-square-foot industrial building located at 1451 Simpson Way in Escondido. Vickie and Dick Engelhardt purchased the property as an investment for $1.2 million. Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage firm...