Colliers’ Carlsbad Teams Wrap $11M in Industrial, M-F Sales

Colliers International recently announced the completion of two separate real estate deals in the greater San Diego area that have gained a combined total of $11 million. It was recently announced that a multi-tenant industrial building and a 16-unit multifamily property were acquired by PacVentures, Inc. and San Diego Heritage Partners LLC, respectively. The Carlsbad office of Colliers International handled representation of both deals, on behalf of all parties involved.

The Carlsbad office of Colliers International recently completed two San Diego-area transactions valued at a combined $11 million. The deals involved a multi-tenant industrial building and a 1980s-vintage apartment complex.

San Diego-based PacVentures  Inc. acquired a 76,954-square-foot industrial building in Vista Business Park at 970 Park Center Drive in Vista. Colliers said that the property, which is fully leased to two tenants, traded for $7.45 million. Colliers’ Russ Jabara and Dave Pinnegar represented the seller, FG&S L.L.C., as well as PacVentures.

Colliers also handled San Diego Heritage Partners, L.L.C. ‘s $3.7 million purchase of a two-building, 16-unit multi-family community. Located at 4638 and 4648 Ohio St. in the University Heights submarket, the 10,578-square-foot property was developed as condominiums in 1982, and comprises six one-bedroom and ten two-bedroom units.

Peter Scepanovic and Corey McHenry of Colliers’ multi-family advisory team arranged the trade between San Diego Heritage Partners and the seller, Ohio Street Villas Group L.L.C.

“University Heights and North Park areas continue to be some of the top-performing multifamily markets in San Diego County due to improving sub-market fundamentals: rising rents, lower vacancy rates, and attractive interest rates on apartment loans,” Scepanovic noted in a statement.