Lee & Associates Closes $3.7 Million Industrial Sale in San Luis Obispo

Oct. 3, 2012 - PRLog -- Lee & Associates, one of the largest national commercial brokerage firms, has recently completed the sale of the industrial property located at 4388 Old Santa Fe Road in San Luis Obispo, Calif. The 21,382-square-foot building was valued at $3.7 million.

Marty Indvik of Lee & Associates Central Coast office represented the seller, Chicago Bridge & Iron Company, who is consolidating to other California and Texas locations. The buyer, Corral De Piedra Land Company, a subsidiary of Waste Connections, plans to utilize the property for administrative purposes as well as the servicing and storage of their vehicles.

Situated on 12.5 acres of county land, the industrial property consists of 16,382 square feet of light manufacturing buildings and 5,000 square feet of administrative office set on a 3.5 acre parcel. The adjacent 9 acre parcel, previously used as excess storage and yard, received approval in April 2010 for an additional 30,679 square feet of industrial buildings.

“Both buyer and seller were very happy with the way the deal came together,” said Indvik. “CB & I was looking to sell in order to consolidate operations and the facility fulfilled a need that Waste Connections has had for over five years. As the buyer will attest, these types of properties are few and far between in our county.”

About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.