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15Dec

Heritage Group Closes Sale of Los Angeles Commercial Office/Warehouse Space

The property at 5057 W. Washington Street sold for $2.3 million SAN DIEGO, CA—The Heritage Group recently closed the sale of a 16,740 s.f. mixed use commercial office-warehouse space in the Los Angeles area. The building sold for $2.3 million in late March. Heritage Group represented the seller, 5057 Washington, LLC, in the transaction. The two-story property offered amenities to include close proximity to the 10 freeway and public transportation; gated and secured private parking; multiple usage opportunities and more. “Heritage took a grass-roots approach to marketing this property for the seller by contacting local brokers, owners and users directly, …

15Dec

Heritage Closes Acquisition in Arizona Sale Leaseback Agreement

Sonic Machine signs five-year lease agreements on two properties SAN DIEGO, CA—The Heritage Group represented Oak Group LP in the successful acquisition of two industrial buildings, totaling 23,000 s.f. combined. The properties, located in Tempe, Arizona, were purchased for approximately $2.2 million from Sonic Machine, who subsequently leased them back on a five-year NNN lease. The lease agreement also included option for the purchase of two additional parcels of land totaling 1.3 acres for future development. “Oak Group LP was in a 1031 Exchange and our firm was able to negotiate the acquisition as well as the new lease.” said …

15Dec

Heritage Represents Landlord in Successfully Renewing Big Lease

Tap Automotive renews lease on 90,000 s.f. San Diego space SAN DIEGO, CA—Tap Automotive, the parent corporation of 4-Wheel Auto Parts, has opted to renew its lease at the Salt Creek Industrial Center in Chula Vista, CA. The Heritage Group represented the landlord, Adaya Asset Boswell West, in securing a five-year, $2,231,000 lease renewal for the 90,000 s.f. space. “Tap Automotive is currently the property’s largest tenant. They have occupied the property since the year 2000 and their tenancy has been an important aspect of the property’s success,” said Mark Hoekstra, Heritage Group Managing Partner. “This lease extension solidifies their …

15Dec

Heritage Group Expands Footprint in San Diego Market, Lands Two Advisors from Cushman & Wakefield

Kyle Clark and Dan McCarthy join The Heritage Group team SAN DIEGO, CA—The Heritage Group, a full-service commercial real estate management and advisory firm, has added two new advisors to their San Diego office. Kyle Clark and Dan McCarthy, both most recently with Cushman & Wakefield, join The Heritage Group as Senior Directors. Mr. McCarthy and Mr. Clark join a rapidly-expanding Heritage Group office, which recently relocated its office to 610 W. Ash Street, which was the first home to Burnham Real Estate. Since Q4 2013, Heritage has nearly doubled its leasing and managing portfolio to 39 properties and 1,500,000 …

15Dec

El Cajon Industrial Property Acquired for $5.7 Million, Available for Immediate Lease

SAN DIEGO, CA—Propco LP of Solana Beach has acquired a 70,713 s.f. industrial property in El Cajon for approximately $5.7 million. Rocco Cortese, Managing Partner of The Heritage Group, advised the buyer in its purchase of the property. Heritage will also manage and lease the property, located at 474-500 Raleigh Avenue. The seller, M. House Family LP, was represented by Cassidy Turley. The property is currently 100 percent leased and occupied. One suite totaling 31,250 s.f. is available for immediate lease, though the tenant’s lease does not expire until mid-2015. Current tenants include Ametek Inc. and Triumph Fabrications. The property …

15Dec

Industrial Park on Raleigh in El Cajon sells

The 70,713-square-foot industrial business park, at 474-500 Raleigh Ave. in El Cajon 92020, has been sold for $5.77 million, cash. The buyer was Propco LP, c/o Lomas Santa Fe Inc., 265 Santa Helena, Suite 200, Solana Beach 92075, Attn.: Patrick Canals. The seller of the property (assessor’s parcel 487-121-88) was M. House Family LP. Cassidy Turley Managing Director Bryce Aberg and Senior Vice President Brant Aberg — along with James Renner, president of Inland Pacific Commercial Properties– represented the seller. The buyer was represented by Rocco Cortese, of Heritage Capital Advisors. Built in 1971, the property occupies a 4-acre site …

15Dec

Largest Space in Core Pacific Beach Commercial District Becomes Available for Lease

The property at 1211 Garnet Avenue, currently housed by Trader Joe’s, will be available for lease beginning fall 2015 SAN DIEGO, Calif.—One of Pacific Beach’s prime retail spaces is hitting the market. Trader Joe’s will vacate its space in Pacific Beach in fall 2015 and will relocate to a new location, currently under renovation, at Garnet and Ingraham. The 12,500- square-foot space where Trader Joe’s is currently located, 1211 Garnet Ave., is the only property over 5,000 square feet available in the Pacific Beach commercial district. The Heritage Group (Heritage), who manages and leases the property, will be accepting and …

15Dec

Advertising Agency Leases Space at 4110 Mission Blvd.

SAN DIEGO, Calif.— Label Creative, a digital marketing agency focusing on web design and development, branding and video production, is relocating to Pacific Beach Promenade, occupying the space at 4110 Mission Blvd., Suite 105. Kyle Clark, Senior Director with The Heritage Group, represented both the landlord and tenant in securing a one-year lease for the 1,130 s.f. space. The building, leased by Promenade Mall Development Corporation, is now at 97 percent occupation and houses other tenants to include Tony Roma’s Steakhouse, State Farm Insurance, Beachwood and more. ### The Heritage Group is a full-service commercial real estate management and investment …

15Dec

Property on State Street Acquired for $1.75 Million

SAN DIEGO, Calif. —A property at 1241 State Street in San Diego has been acquired for about $1.75 million. The Heritage Group, which occupied the property prior to the sale, advised the seller in the purchase of the property. Robert Charles Class E LP sold the property to 1241 State Street LLC on March 5. “Not only did we help our client to acquire the property but we also performed the leasing, onsite management, and oversaw the design and construction of the seismic upgrades,” said Mark Hoekstra, managing partner at Heritage Group. “In addition to performing these services, we enjoyed …

15Dec

70-unit Multifamily Property Sells for $3.05 Million

GLENDALE, Ariz.— Gilmore Family Trust acquired a 70-unit multifamily property in Glendale, Ariz. for $3.05 million. The seller was CalCap Property Group. Glenn Gilmore, senior director at The Heritage Group, represented the buyer in the sale. The property was built in 1984 and is located at 5712 North 67th Ave. It is 97 percent occupied and has 44 one-bedroom, one-bathroom units and 26 two-bedroom, two-bathroom units. “This is the second apartment property and seventh asset The Heritage Group has acquired for a 1031 exchange investor this year,” Gilmore said. The apartment building was acquired as a result of the sale …

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