San Mateo, California-based TDA, Inc., a commercial real estate investment group, has purchased the Palomar Corporate Center, a fully occupied, 66,922-square-foot industrial property in Vista, California. Newmark Grubb Knight Frank (NGKF) completed the sale on behalf of the buyer; terms of the deal or a pricepoint were not disclosed, but CoStar reported that the building previously sold for $8 million in August 2006 when Donald A. and Vicki L. Whitacre purchased the property from H & J Devco LLC.
"The buyer sought out Palomar Corporate Center because it is a stabilized, pride-of-ownership asset in a good location where vacancy is very low - about 4.5 percent," said Brent Bohlken, senior managing director at NGKF. "The buyer plans to hold long-term."
The industrial building at 3210 Executive Ridge was built in 1999 and is situated on 3.62 acres. The property is fully occupied by EarthLite as its corporate headquarters, and features approximately 15,000 square feet of finished mezzanine space, four grade-level loading doors, four dock-high loading doors, a freight elevator and 128 parking spaces.
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