SAN DIEGO – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced the sale of Venture Commerce Center – Otay Mesa to two entities of the Hamann Companies for an undisclosed price.
The property is situated on 8.44 acres and consists of eight buildings totaling 123,719 square feet. The original development was divided into 38 individual office, industrial, warehouse and showroom units ranging in size between 1,477 and 18,831 square feet. The Hamann entities acquired, in bulk purchase, the 26 remaining units totaling 86,541 square feet.
The buyers, Venture L.P., a California Limited Partnership and Vista South Melrose L.P., a California Limited Partnership, both entities of Hamann, were represented by Regan Tully of Cassidy Turley BRE Commercial. The seller, Otay Mesa Owner, LLC, a Delaware Limited Liability Company, was represented by Kevin Shannon of CB Richard Ellis’ Los Angeles office along with Louay Alsadek, Rich Kwasny and Shane Harmon of CB Richard Ellis’ downtown San Diego office.
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.