SAN DIEGO-An entity of Layton Belling & Associates has bought a 410,000-sf industrial building in the Kearny Mesa area for $27.7 million.

Trammell Crow Co. helped broker the sale of the multi-tenant building to LBA-VIF One LLC. Ruffin San Diego Corp. had owned the property, located at 4000 Ruffin Rd., since 1995. The sale closed on Oct. 17.

American Realty Advisors acted as the real estate investment manager to the seller. Trammell Crow Co. represented both parties. The 409,622-sf building, which is situated on 19 acres, is fully leased to three tenants: Factory-2U, Sharp Healthcare and Alexander¹s Moving & Storage.

The increasingly hot Kearny Mesa submarket makes the property an attractive long-term investment, says Cole. The area has received new attention from developers, in part because of the burgeoning San Diego Spectrum project. This mixed-use development by Lennar Partners is on the site of the former General Dynamics missile plant.

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