Lee & Associates Closes $3.5 Million Industrial Sale In Oceanside

Aug. 2, 2012 - PRLog -- Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the sale of an approximate 29,000-square-foot industrial property located on 3.83 acres of land at 503 Jones Road in Oceanside, Calif. for $3.5 million.

Isaac Little and Marko Dragovic of Lee & Associates-North San Diego County, along with Allen Basso of Lee & Associates-Irvine represented both the buyer, Emerald Family Holdings, and the seller, Blackburn Family Holding Co., in the transaction. The property was 100 percent leased at the time of the sale.

“We were able to negotiate lease extensions for two of the existing tenants while we were in escrow which increased the buyer’s cash flow,” Little noted. “This was a very desirable property due to its superior location directly along Highway 76. Additionally, the property has a large excess yard, which is very hard to find in this submarket.”

The buyer plans to keep the property as a family investment for the time being.

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 45 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, 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.