El Cajon Office Building Sells for $2.625 million in 1031 Exchange, CAA Announces
EL CAJON, CA (April 19, 2021) — A multitenant office building sold for $2.625 million on Feb. 26, 2021 in the commercial corridor of El Cajon in a seamless, tax-advantaged transaction, Commercial Asset Advisors (CAA) announced.
The two-story property is located at 1283 E. Main Street in El Cajon.
The buyer, Jaefar Yaseyyedi, purchased the property in a 1031 exchange – a swap of one investment property for another that allows capital gains taxes to be deferred – having just sold his nearby property at 1338 E. Main Street. He was represented by Gino Kalasho of CAA in both transactions.
The seller was Douglas M. Selik and Janet S. Selik Declaration of Trust, represented by CAA Principals Mike Conger and Brian Jenkins.
“We were able to achieve a great price and a successful close for the seller while navigating the uncertainties that exist in a COVID-19 market,” said Jenkins. “The buyer was able to enjoy capital gains deferment through a 1031 exchange and will be able to add value to the property while taking advantage of the maturing market of El Cajon.”
The multitenant office building of 18,337 square feet is in a desirable high-traffic area on a 32,670-square-foot lot. It is filled with smaller units perfect for small-business tenants, ranging from 200 square feet to 1,600 square feet.
For additional information, you may contact Mike Conger, CAA Principal (DRE Lic. # 01381193), at email@example.com or Brian Jenkins, CAA Principal (DRE Lic. # 01814828), at firstname.lastname@example.org; or Gino Kalasho (DRE Lic. #02046687) at email@example.com.
About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.