SAN DIEGO—United Trust Fund has completed a$15-million sale/leaseback here with one of thelargest construction companies in the US thatrepresents the seller's fourth headquarters transaction with thefirm. GlobeSt.com has learned that the 27,340-square-foot,LEED-Platinum building is in the University Citysubmarket.
The single-tenant headquarters office buildingis 100% occupied by the construction firm, whose identity was notdisclosed to GlobeSt.com. The lease is a 15-year absolutenet lease.
A quick closing time was key for the seller/tenant. According toJohn Oks, VP of acquisitions forUTF, “Our directive from the company wasstraightforward. We had to close in 34 days. As a result of UTFexceeding the company's expectations, we now have three of theirregional headquarters buildings under contract in Arizona, Chicagoand Massachusetts.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
