September 16, 2019— Colliers International San Diego Region announces the sale of a 46,830-square foot industrial building located in San Diego’s Otay Mesa neighborhood for $6,375,000.
Mark Lewkowitz and Chris Holder of Colliers International represented the seller, Guy C Clum Trust. The buyer, RMJF LLC, was represented by Craig Fitterer of Lee & Associates.
“7550 Panasonic Way had short-term lease at a below market rental rate that was set to expire in the near future,” said Mark Lewkowitz, Senior Vice President at Colliers International. “The new ownership purchased the property on a speculative basis with the plan to eventually Lease the building. Our team was able to procure a credit tenant and negotiate a long-term lease prior to the deal closing.”
The freestanding building is located at 7550 Panasonic Way, San Diego, CA with close proximity to State Routes 905, 805 and 125 and the Otay Mesa Port of Entry. The building was constructed in 2005 and includes a highly functional drive-around truck access, dock and grade level loading, and large secured yard.