Club Pilates Leases 1,750-Square-Foot Space in Santee Town Center

SANTEE, Calif. – KT Fitt, LLC, dba Club Pilates, leased 1,750 square feet of space at the Santee Town Center. The five-year lease is valued at $163,100 and will begin on March 1. Kyle Clark, senior director at The Heritage Group, represented the owner in securing the lease and the tenant was represented by Bo Gibbons of Pacific Coast Commercial. Kiem Vu and Thanh-Nu Nguyen own the property. “This will be the third location operated by this particular Club Pilates franchisee,” Clark said. “This location offers direct access to Santee Trolley Square and the Santee Transit Station, providing trolley service …


The Heritage Group Celebrates 10 Years

SAN DIEGO —The Heritage Group, a San Diego-based full-service commercial real estate and investment advisory firm, celebrates in 2015 its 10th anniversary of providing solution-driven strategies for owners, occupiers and investors in commercial real estate. Heritage is lead by managing directors Mark Hoekstra and Rocco Cortese. “Since inception of our firm, we have focused upon adding value for our clients, their properties, and the communities in which those properties are located. We’ve sustained during difficult economic times and continued to expand the breadth of our services,” Hoekstra said.” We look forward to the next 10 years and beyond as we …


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Heritage Capital Advisors Hosts Free Oil & Gas Webinar for Accredited Investors

Heritage Capital Advisors offers a monthly webinar series for accredited investors looking to learn about ways to diversify their portfolios. On December 4, 2013, Heritage will host guest speaker Gulf South Holdings Inc. to discuss how Developmental Oil Drilling Programs can potentially help reduce income taxes, provide monthly income and help diversify investors’ portfolios. The 30-minute webinar will begin at 11 a.m. PST, is free and open to accredited investors only. Please register online here. THIS WEBINAR IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED THE OFFERING IS MADE ONLY BY …


12,000 s.f. Automotive Property Sold in Excess of $2 Million

The Medford, Oregon property was both sold and subsequently leased by Hertz Car Sales SAN DIEGO, CA— A private investor recently acquired a 12,000 s.f. sales and automotive services property from West One Automotive, doing business as Hertz Car Sales. The property, located on 3.8 acres in Medford, Oregon was sold in a 1031 Exchange for $2,150,000. The space will remain occupied by Hertz Car Sales, which signed a 12-year lease following the property sale. The Heritage Group and Managing Partner Mark Hoekstra represented the buyer in locating a replacement property for their 1031 sale, which took place in November …


Heritage Group Partners with Yammer Founder to Acquire Tech-Related Real Estate

Internet entrepreneur David Sacks extends reach into commercial real estate industry SAN DIEGO, CA— The Heritage Group has completed its first Joint Venture equity placement with David Sacks, founding CEO of Yammer, first Chief Operating Officer of PayPal, and an early investor in prominent tech companies to include Facebook, Twitter, Uber, Houzz and AirBnB. The close of escrow occurred at the end of 2013 and Heritage has since been retained to manage the investment on behalf of Sacks. The properties, formerly known as Old Pasadena Plaza, were purchased for $10.5 million and are expected to become part of an emerging …


54 Unit Lakeside Apartment Building Sold to Local Investor

The Magnolia Terrace Apartments in Lakeside have been sold for $5 million SAN DIEGO, CA—The Heritage Group represented the Lomas Santa Fe Group in a recent 1031 Exchange transaction acquiring the Magnolia Terrace Apartments in Lakeside, California. The buyer, which has residential properties in Del Mar, Solana Beach and Escondido, will complete significant improvements to the interior and exterior of the 54-unit property to help enhance the quality of the community. The acquisition of Magnolia Terrace was the completion of a 1031 Exchange that required a highly leveraged new transaction. “Lomas Santa Fe had a lot of debt to replace …


Heritage Represents Buyer and Seller in Florida 1031 Exchange Transaction

IHOP Fleming Island Acquired for more than $2.1 million SAN DIEGO, CA—The IHOP in Fleming Island, Florida has been acquired in a 1031 Exchange transaction. The Heritage Group represented both the seller, Oak Group LLC, and the buyer, Danash LLC, in the acquisition. The free standing NNN leased building sold for approximately $2,100,000. “This IHOP is in a good location and leased to the top franchisee in Florida. Heritage was able to represent both the seller and buyer, who was in a 1031 Exchange,” said Rocco Cortese, Heritage Group Managing Partner. The Heritage Group is a full-service commercial real estate …


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, …

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