Daily Business Report — Jan. 4, 2012
Britannia Business Park and Scripps Corporate Center Sold
Britannia Business Park at 2550 Britannia Blvd. in San Diego has been sold for $8.51 million to Jeffery Hamann, trustee of the J.C. Hamann Family Trust. The Scripps Corporate Center, located at 9845 Erma Road, also in San Diego, was purchased for $3.14 million by Via Cortina Properties.
The 147,232-square-foot Britannia property is just north of the proposed cross-border air terminal scheduled to open and connect to the Tijuana airport within the next few years, according to Cushman & Wakefield, which represented the seller, Klopfer Associates LLC. The project was built as a multi-tenant distribution facility by Koll Properties and has been occupied by Polk Audio since the sellers acquired the site in 1996, though the company is now trying to sublease the building. Hamann Properties is one of the largest landlords and land owners in Otay Mesa and acquired this facility as part of a 1033 exchange.
The 31,028-square-foot Scripps Corporate Center is a multi-tenant office building. The seller was One West Bank FSB, which was represented by Colliers International. Grubb & Ellis represented the buyer.
Colima Linda Apartments Sold for $15.9 Million
Klingbeil Capital Management has purchased a 116-unit apartment community at 7575 Linda Vista Road in San Diego for $15.9 million. The property — sold by Colima Linda LP — contains studio and one- and two-bedroom units. Amenies include sand volleyball and tennis courts, swimming pool and spa, fitness center, clubhouse and common laundry area. Prior to the sale, the Colima Linda Apartments were owned, maintained and managed by the same partnership since its construction in 1977. Jim Neil, Eric Comer and Merrick Matricardi of the CBRE San Diego represented the seller.
Fashion Terrace Apartments Sold for $17 Million
Acacia Capital Corp. has purchased a 73-unit apartment complex at 6888 Friars Road in Mission Valley from Fashion Terrace LLC for $17 million. Fashion Terrace Apartments is situated on three acres. Community amenities include a heated lap pool, fitness center, spa, sauna, barbecue facilities and secured parking. The average unit size of the 73,454-square-foot development is 1,006 square feet with a unit mix of 10 one-bedroom units and 63 two-bedroom units. CBRE San Diego represented the seller.
Klinedinst Adds Partner
James D. Crosby has joined the San Diego law office of Klinedinst as a shareholder. Crosby has nearly 30 years of experience in the field. He has represented individuals and companies in a range of business matters. He obtained his law degree from the University of San Diego School of Law.
Upcoming SCORE San Diego Workshops:
• Jan. 5 – Financing Your Business – 9 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego, 92101; pre-paid registration $29, $39 at the door).
• Jan. 6 – Insurance – What You Need to Know – 9 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $49, $59 at the door).
• Jan. 7 – Introduction to Starting Your Own Business – 9 a.m. to 4 p.m. at National University – Kearney Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $69, $79 at the door).
• Jan. 7 – Internet Marketing 101 – Use the Internet to Successfully Market Your Business – 9 a.m. to 3 p.m. at National University – Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $69, $79 at the door).
• Jan. 9 – Restaurant 101 – 9 a.m. to 1 p.m. at National University – Kearney Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $49, $59 at the door).
• Jan. 10 – Tax Considerations for Small Business – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego, 92101; pre-paid registration $29, $39 at the door).
The Daily Business Report is produced by REP Publishing Inc., publisher of SD METRO, the North Park News and the West Coast Craftsman. Contact: Manny Cruz (619) 287-1865.