OFF MARKET MULTI-TENANT INDUSTRIAL ACQUISITION IDENTIFIED AND ACQUIRED FOR A 1031 EXCHANGE
This difficult to find property was procured off market and the buyer who was in a 1031 exchange was able to identify and close within 3 days of closing the downleg property. This transaction enabled the Buyer to reposition a portion of the portfolio from a volatile single unit residential investment property to a multi-tenant industrial property that provides diversification and increased cash flow.
Property: 1243 Greenfield Dr., El Cajon, CA 92021
Size: 17,272 SF building located on an approximately 37,897 SF lot
Purchase Price: $2,385,000
Price Per SF: $138.08
Number of Tenants: Six (6)