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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 …

15Dec

The Omelette Factory Leases 4,030-Square-Foot Space in Santee

Magnolia Avenue shopping center to open in fall 2015 SANTEE, Calif. – The Omelette Factory recently signed a 15-year, $1.35 million lease for a 4,030-square-foot build-to-suit space at a new retail center located at 8866 North Magnolia Ave. in Santee. Kyle Clark, senior director at The Heritage Group, represented the owner and tenant in securing the lease. Cameron Brothers Construction Co. owns the property and is negotiating with other tenants, including a national coffee retailer. “The now-completed 52 freeway terminates at the intersection of Highway 67, Magnolia Avenue and Prospect Avenue, creating a revitalized eastern gateway to the city of …

15Dec

Heritage Group Announces New Portfolio Manager

Travis Gorzeman joins The Heritage Group team SAN DIEGO, Calif.—The Heritage Group, a full-service commercial real estate management and advisory firm, has named Travis Gorzeman as portfolio manager. Gorzeman will be responsible for overseeing The Heritage Group’s Southern California commercial real estate portfolio, with a focus on maintaining strong relationships with clients and tenants, tight administrative and accounting controls and developing new business opportunities through his extensive national network of relationships. Prior to joining Heritage, Gorzeman was a senior real estate manager at CBRE. In the years prior to that, he was a property manager at Equity Office, property manager …

15Dec

Vom Fass Debuts in San Diego at The HUB Hillcrest Market

SAN DIEGO, Calif. — Vom Fass, a German-based retailer featuring flavor-infused oils, vinegars and spirits, has signed a lease for its first San Diego location at The HUB Hillcrest Market, formerly known as the Uptown District. The Heritage Group represented the landlord and the tenant, Full Glass Enterprises Inc., DBA Vom Fass, in securing a five-year lease. The 148,638-square-foot center is owned by Uptown District Regency, LLC and is anchored by Ralphs and Trader Joe’s. The Uptown District was recently rebranded as The HUB and is under renovation to represent more of a public gathering spot with various enhancements and …

15Dec

San Jose Dollar Tree Sold for $4.95 Million

SAN JOSE, Calif. — Oak Group LP has sold the 18,511-square-foot Dollar Tree at 2155 Tully Road in San Jose for $4.95 million. Oak Group LP, a Los Angeles-based investment partnership, was advised by Mark Hoekstra, managing partner of The Heritage Group, a San Diego-based commercial real estate management and investment advisory firm. Strong market conditions dictated the timing for this sale, which will allow the seller to do a 1031 exchange into a more opportunistic property. “This property sold for more than its listing price and was under contract within one week of listing,” Hoekstra said. “We were able …

15Dec

Tax Advantages of Investing in Real Estate

13Dec

How to Get Passive Income Through Real Estate

13Dec

Heritage to Manage Newly-Renovated Kearny Mesa Office Building

Premier Medical Institute completed a $5 million rehabilitation in 2014 SAN DIEGO, Calif. — The Heritage Group, a San Diego-based commercial real estate management and investment advisory firm, has taken over the management of the Premier Medical Institute in Kearny Mesa. The Premier Medical Institute, located at 7625 Mesa College Drive, was purchased in December 2012 by Dr. Scott P. Leary, a board certified neurosurgeon with a fellowship in complex spine surgery. The property then underwent a $5 million rehabilitation that concluded in 2014. “This highly-visible asset represents a rare opportunity to create a state-of-the-art medical office building with direct …

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