Lee & Associates Closes $3.5 Million Industrial Sale in Oceanside

OCEANSIDE, Calif. — July 31, 2012— Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the sale of an approximate 29,000-square-foot industrial property located on 3.83 acres of land at 503 Jones Road in Oceanside, Calif. for $3.5 million.

Isaac Little and Marko Dragovic of Lee & Associates-North San Diego County, along with Allen Basso of Lee & Associates-Irvine represented both the buyer, Emerald Family Holdings, and the seller, Blackburn Family Holding Co., in the transaction. The property was 100 percent leased at the time of the sale.

“We were able to negotiate lease extensions for two of the existing tenants while we were in escrow which increased the buyer’s cash flow,” Little noted. “This was a very desirable property due to its superior location directly along Highway 76. Additionally, the property has a large excess yard, which is very hard to find in this submarket.”

The buyer plans to keep the property as a family investment for the time being.