In the News

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, …


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 …


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 …

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