LA Firm Buys Industrial Property near San Diego for $44M
The development is fully leased and spans more than 169,800 square feet.
By Greg Cornfield June 11, 2020 7:00 pm
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A private firm based in Los Angeles has purchased a new industrial facility in San Diego County for $44 million.
The property, called Vector, is fully leased to two tenants — Fluidra and ShipCalm — and it spans more than 169,800 square feet. The buyer, 3200 San Fernando LLC, is managed by Kenneth K. Lee and Margaret Lee, based on Wilshire Boulevard in L.A.’s Hancock Park, near Koreatown. Lee could not be reached for comment.
Cushman & Wakefield (CWK) announced the deal and represented the seller, RPG — formerly RAF Pacifica Group.
The property was built last year at 2882 Whiptail Loop East in Carlsbad. RPG purchased the property about four years ago from Kilroy Realty for $8.86 million, records show.
Western Alliance Bank has provided two mortgage loans for the property, each for $18.5 million in 2017 and 2018, according to financing records.
Aric Starck, with Cushman & Wakefield, represented RPG.
According to media reports, Kenneth Lee and Margaret Lee sold a property at 3200 N. San Fernando Road in Atwater Village that was previously used by a university. That property traded at the beginning of the year to the L.A. Department of Water and Power for $28 million.
