349 S. Marshall Ave, El Cajon, CA 92020
Pacific Coast Commercial announced today that an El Cajon industrial/commercial building located at 349 S. Marshall Avenue has been sold for $1,295,900.
The property was acquired by Geary Floors and the Buyer will be moving their headquarters to the facility.
The Buyer was represented by Ken Robak and Nick Mane of Pacific Coast Commercial. The Seller was represented by Ryan Sparks & Tom Caplan of CBRE and Robbie Cornell of Toller Cornell Commercial.
Zack Grotey of Bank of America facilitated the conventional owner-user financing.
“With El Cajon’s industrial vacancy rate below 2% this building provided an excellent opportunity for Geary Flooring to purchase a property in El Cajon’s competitive industrial market. Small free-standing industrial buildings are extremely difficult to find in this market and the purchase was an immediate value add opportunity. The building will provide expansion space and long term growth for a dynamic and growing business,” said Ken Robak, Vice President of Brokerage Pacific Coast Commercial.
The 5,860 square foot freestanding building is situated on 0.33 acres and was the former site of Ditch Witch.
Geary Floors is a family-owned and operated business that has been supplying Southern California with quality hardwood flooring since 1990. Geary Floors specializes in the installation, maintenance and repair of residential, commercial and athletic wood flooring.
Property Type: Commercial / Industrial
Square Footage: 5,860 SF on approx 0.33 acres
Sale Price: $1,259,900
Close of Escrow Date: 12/27/2019
Seller Name: Pape Properties Inc.
Buyer Name: Geary Family Holdings
Escrow Company: First American
Title Company: First American
Financing: Zack Grotey—Bank of America
Contact Robak Advisory Group (619) 469-3600
Vice President of Brokerage
Lic. # 01236527
Lic. # 01939391
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