EL CAJON, CA (October 1, 2021) — A net-lease industrial building in El Cajon sold for $4.675 million on September 13, 2021, Commercial Asset Advisors announced. The building, at 1404 N Marshall Ave, El Cajon, CA 92020, is 20,540 square feet.
The buyer, Purple Mountain Empire, was represented by Mike Conger and Brian Jenkins of Commercial Asset Advisors. CAA was able to achieve a successful close by working diligently with the buyer to complete a tax-advantaged 1031 exchange transaction.
“Industrial properties remain one of the most desired product types in this industry,” Conger said. “This was a fantastic way for our client to grow their portfolio while benefiting from a tax-advantaged exchange.”
The space will be delivered occupied to the new owner.
“The interesting thing about industrial properties in El Cajon is that despite growing demand, we are not seeing new ones being built,” Jenkins said. “With continued high interest and restricted supply, we can expect a strong industrial market in the San Diego region for years to come.”
The seller was Chenoweth Family Trust, and the listing agents were Ken Robak and Nick Mane of Pacific Coast Commercial.
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.