SAN DIEGO – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced the $2.5-million sale of the industrial building located at 165 Denny Way in El Cajon.
The 44,424-square-foot building sits on approximately 2.45 acres of land and was purchased in lieu of foreclosure with Independence Bank. Ibark, LLC was Independence Bank’s REO holding company. The building was originally built in 1986 as Valley Bowl and has been used as a granite/stone manufacturing site for the past 10 years.
Ken Ruppert, Kerry Schimpf and Cameron Czubernat of Cassidy Turley BRE Commercial represented the seller, IBARC, LLC, a California limited liability company, in the transaction. Erik Wiese of Wiese & Associates represented the buyer, Hormuth Properties, Inc.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,000 professionals in 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services with local San Diego market leader Cassidy Turley BRE Commercial. The company’s dominant market presence includes more than 160 professionals and staff in five local offices and recorded nearly $1.2 billion in transactions in 2010. For more information about Cassidy Turley BRE Commercial, please visit www.brecommercial.com.