9134-9140 Olive Drive, Spring Valley, CA 91977
Pacific Coast Commercial announced that a commercial property at 9134-9140 Olive Dr. in Spring Valley, CA 91977 was purchased by Cintam 19, LLC a related party to Premier Roofing CA, Inc. for $1,400,000.
Premier Roofing has had a long time presence in Spring Valley and the approximate 1 acre site will provide much needed expansion space and will be their new headquarters. The Buyer plans major renovations to modernize and upgrade the property. Prior to the sale, the property was leased by roofing supply business that vacated prior to the close of escrow.
Ken Robak and Nick Mane of Pacific Coast Commercial represented the Buyer and Seller in this off-market transaction.
Ted Dawson and Marty Spuehler of Union Bank facilitated the conventional owner-user financing with included construction financing.
“The property is zoned M54 with the County of San Diego and it allows for outside storage which was a major factor in the Buyer’s decision to acquire this site. With the limited available inventory of property with the M54 zoning designation in San Diego County the site was highly desirable for the Buyer’s business," said Broker Associate Nick Mane of Pacific Coast Commercial.
Ken Robak, Vice President of Brokerage at Pacific Coast Commercial said, “With the extremely limited inventory of properties, we searched for over 3 years for the ideal property to suit the needs of Premier Roofing.”
Premier Roofing Ca, Inc. is a roofing contractor specializing in re-roofing, maintenance, repair and roof system installation throughout San Diego County and the surrounding areas. Premier Roofing serves apartment complexes, homeowners' associations, commercial and industrial developments, and public works projects.
Property Type: Industrial / M54
Square Footage: 1,415 SF Building Situated on approx. 99 Acres
Sale Price: $1,400,000
Close of Escrow Date: 12/24/2019
Seller Name: Mendenhall & Paris
Buyer Name: Premier Roofing CA
Escrow Company: Tearassa Lowell / Lynn Yockey - Granite Escrow
Title Company: Tonya Courtney - Ticor Title
Financing: Ted Dawson and Marty Spuehler - Union Bank
Contact Robak Advisory Group (619) 469-3600
Vice President of Brokerage
Lic. # 01236527
Lic. # 01939391
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