Mike Severson, vice president of acquisitions and developmentfor Bixby Land Co., describes the Via Vera Cruz building as "awell-positioned asset leased to a long-term credittenant” in one of San Diego’s strong industrialsubmarkets. Bixby bought the property from Veritek, which is awholly owned subsidiary of NuVision Manufacturing LLC. Veritek issigned to a NNN lease running through 2017 at the single-tenant,two-story property.

The building is located in the center of the San Marcoscommercial industrial area on roughly six acres of land andincludes approximately 27,000 sf of office space.Both Bixby landand the seller were represented in the sale by Barry Hendler, MikeErwin and Justin Beattie of Grubb & Ellis|BRE Commercial.

[IMGCAP(2)]The Emri Group's partner in its acquisition isBaltimore-based Alex Brown Realty. An Alex Brown value-added fund,called ABR Chesapeake Fund III, provided an equity commitment of$2.9 million to the venture.