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EL CAJON, CA-A private investor has picked up a mixed-use property in El Cajon for $1.5 million.

The 12,534-sf building, which contains a mix of medical office, office and retail space, is located at 1685 E. Main St. It is currently 100% leased by several tenants, including Nextel/Sprint, two private medical clinics, a medical group and a pharmacy. All occupants will remain in the building through the sale of the property, which has been acquired as a straight investment, according to a spokesperson for Coldwell Banker Commercial – Towne Centre, which worked on the deal.

The buyer, Frank Parker, was represented by George Jonilonis of GME Properties. Tom Olson, Jesse Karassik and Justin Harvey of Coldwell Banker Commercial acted on behalf of the seller, Kenneth J. Howland.

Private investors continue to dominate the majority of Southern California’s real estate markets when it comes to acquisition activity, as today’s low interest rates are keeping them armed with capital. Despite the overall political uncertainty looming over the state and the economic instability facing most of the nation, industry experts say money continues to chase deals here in the Southland.

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