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NEWPORT BEACH, CA-CT Realty Corp., a real estate investment and development company, has purchased the Vallecitos Business Center in San Marcos from Voit Cal Portfolio Partners Phase I LLC for $13.5 million.

The park, located at 800-850 Los Vallecitos Blvd. and 125-145 Vallecitos de Oro in north San Diego County, consists of eight, two-story buildings built on six parcels of land on 11 acres. Totaling 169,808 sf in all, the multi-purpose property has three buildings offering 53,378 sf of light industrial space and two buildings offering 56,010 sf of industrial and second-story office space, two buildings with 37,900 sf of freeway/showroom space, and a 22,520-sf building of freeway/showroom/industrial space.

Presently 98% occupied, current tenants include the Superintendent of Schools of San Diego County, the San Diego/Imperial Counties Office of Developmental Services, and the Metropolitan Advisory Committee of San Diego. Major retail tenants include Haywood’s Unfinished Furniture and Raymond Allyn Office Furniture.

“Vallecitos Business Center represents the type of well-located, multiple-use property we are actively searching for,” says John Valentine, SVP of CT Realty. “It provides excellent freeway visibility, direct access to a main transportation corridor and ultimate portfolio flexibility, from an ownership standpoint.”

The center’s unique configuration will allow CT Realty to eventually sell the six parcels individually or in any combination, making it an unusual investment opportunity, Valentine adds.

Both CT Realty and Voit Cal Portfolio Partners were represented in the transaction by brokers from Voit Commercial Brokerage’s San Diego and Anaheim offices. Heller Financial provided the debt financing.

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