The 78,000 sf industrial project formerly known as the Oak RidgeBusiness Center is owned by a San Diego based partnership includingand managed by Foster Investment Corp. Foster originally acquiredthe investment as a single net asset.
Two recent leases brought Poinsettia Park to full occupancy.BackYard Boards, which makes custom skateboards, signed a five-yearlease for15,000 sf, and Amerilum, a light fixture manufacturer,also signed afive-year lease for 18,000 sf.
Local market conditions made it impossible for the seller tocontinue leasing the property to a single tenant. BRE was awardedthe assignment to reposition the property as a multi-tenantfacility.
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