Graymark Buys Lionshead Building

Graymark Capital Real Estate Investments, a San Francisco-based real estate firm, has purchased 3209 Lionshead Avenue in Carlsbad, CA for $12.2 million. Graymark picked up the property from Irvine-based LBA Realty; DTZ's Rick Reeder, Brad Tecca, Dennis Visser and Aric Starck represented both buyer and seller in the transaction. Full terms of the deal were not disclosed.

"This marks Graymark's first purchase in San Diego," said DTZ's Brad Tecca. "We're seeing increased interest from outside parties, as potential returns on the investments are greater here than in many other regions. It's our job to find mutually beneficial opportunities for all concerned. It was an honor to do so for both Graymark and LBA Realty."

The 74,000 square foot, single-tenant corporate headquarters building is currently leased by prAna, a wholly-owned subsidiary of Columbia Sportswear Company. The building was constructed on 4.56 acres in 2009, according to CoStar Group. Brokers said this is Graymark's first purchase in the San Diego market.

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