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SAN DIEGO, CA-Portland, OR-based Harsch Investment Properties is continuing its foray into the San Diego market, having recently purchased Loma Business Center for nearly $20.5 million. The acquisition marks Harsch’s third industrial buy here in the past month.

Encompassing 247,000 sf, Loma Business Center is located at 7925-85 Dunbrook Rd. and 9220-70 Trade St., just east of the 805 Freeway and north of Miramar Road. It is currently 88% leased to tenants including Magellan Laboratories, Harvey Interiors, Rainbow Publishing and Exhibit Innovations.

Both Harsch and the seller, Loma Palisades LLC, were represented by Don Mitchell, Paul LaFrenz and Dan Brennan of CB Richard Ellis. Brennan, along with CB Richard Ellis colleague Dean Asaro, will handle ongoing leasing efforts.

The new acquisition brings Harsch’s San Diego portfolio to more than 765,000 sf, with company officials expecting it to grow to more than 1 million sf by year-end 2003. In addition to the Loma Business Center asset, Harsch has also recently purchased the 214,533-sf Cabrillo Commerce Center and the 174,413-sf Carroll Canyon Center.

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