Vista Industrial Asset Fetches $5.6M

The sale of a San Diego industrial asset was recently announced by real estate brokerage Colliers International. The transaction was completed by one of the company’s local offices, on behalf of seller Symphony Asset Pool XIV, while new owner B Group Holdings Inc. was represented by CCIM. The value of the transaction stood at a total of $5,562,500.

A 65,000-square-foot industrial asset in Vista has been acquired by B Group Holdings Inc. for $5.6 million. Located at 1081 Poinsettia Ave., the property is entirely leased to Brown Safe Manufacturing, which uses the building as its headquarters and manufacturing facility. Last year Brown signed a 90-month, $3.4 million lease on the property.

Joe McDermott of Cushman & Wakefield Inc. represented the buyer, while Colliers International’s Henry Zahner and John Busse represented the seller, Symphony Asset Pool XIV.

According to Zahner, a Colliers senior vice president, the transaction is “a continued indication of the slowly improving economy and financing markets.”

According to Colliers, Brown Safe Manufacturing will continue to operate the industrial facility for the remainder of its contract. The facility also includes 9,000 square feet of office space, upgraded sprinkler facilities and extensive glass lines.

The sale was an “opportunity to once again work with Symphony Asset Pool XIV and the buyer’s agent to successfully complete the transaction,” Zahner said.