(Read more on the industrial market.)
SAN DIEGO, CA-Colony Realty Partners has acquired afour-property business park totaling 162,182 sf from the McGrathFamily Trust for $27.2 million, according to Voit CommercialBrokerage. The portfolio is 97% occupied, notes Randy LaChance,senior vice president at the San Diego office of Voit Commercial,which brokered the transaction.
Among the reasons that the deal appealed to the buyer, accordingto LaChance, was that, "With vacancy rates in the industrial sectorof San Diego expected to start declining in 2008 and no affordableland to build competitive space, this acquisition proves to be astrong investment opportunity." LaChance was part of a Voit teamincluding SVP Glen Volk, Todd Holley, Brian Mulvaney and BruceSanders that represented both the buyer and the seller.
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