Bruce Beaton, of Carlsbad, CA, picked up the 1402 E. Vincent Highway property one week after it came to market, outbidding several other prospective buyers to take ownership. "He got a very good return on a stable tenant," Paul Boyle, with Grubb & Ellis/BRE Commercial says of the buy.
Tenant and former building owner Rocky Mountain Capital of Denver, which operates Auto Safety House, a repair business for school buses and city vehicles, grabbed a 12-year sale/leaseback on the building, where they have been located for more than 10 years. Terms of the lease were not available. The firm also has a similar repair business in Phoenix.
Boyle, along with Rick Danis and Steve Mardian, also with Grubb & Ellis /BRE Commercial, represented the buyer in the transaction. Rocky Mountain Capital was represented by Bill DiVito with CB Richard Ellis Inc. in Tucson.
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