The buyers, Mario P. and Nancy Estolano have paid $1.4 million for the building, which is located at 310 and 340 National City Blvd. The San Diego Leather Factory will now occupy the space at 340 National City Blvd.
Phil Wise of Colliers International acted on behalf of the buyers. Wise also represented the seller, Wells Fargo Bank Minnesota NA, previously known as Norwest Bank Minnesota NA, trustee for the registered holders of First Union National Bank Commercial Trust, commercial mortgage pass-through certificates, series 2000-C1.
This transaction follows on the heels of another San Diego County retail sale, in which a fully leased center traded hands for $3.2 million. Known as the Qwik Centre retail complex, the property was acquired by Amos Travis, trustee of the J. Coleman Travis Trust. Located at 3760 Gaines St. and 3111 Hancock St., the retail center is occupied by tenants such as McDonald's, Subway Sandwiches and Valvoline Instant Oil Change.
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