The deal is the second recent major pickup in the San Diego areafor Kearny. Last month, the Los Angeles-based firm acquired 311.4acres of raw land in Otay Mesa for $23.3 million.

For the Temecula buy, Kearny acquired the 100% occupied spacethrough its $100 million Kearny Industrial Fund. Built in 1991, thefacility serves as the headquarters for Walker Wood Products Inc.,a family-owned cabinet manufacturing company that serves SouthernCalifornia homebuilders. The deal was structured as asale-leaseback with Walker agreeing on a 10-year deal. Pat Scruggs,Gary Stache, Anthony Delorenzo and Rob Gunness of CB Richard Ellisrepresented both parties.

Kearny entered the Temecula market in 1999. The firm hasdeveloped nearly 550,000 sf of industrial space in the area. Topsamong developments is the 412,000-sf build-to-suit for The ScottsCo. The other major project is Remington Business Center, whichtotals 24 industrial condominium units.