3 Owner/User Sales closed in 3 Months!

Wednesday, April 30, 2014

The White Family Trust approached ECP with a desire to Lease or sell their current office, and purchase an investment property that they could also occupy.  ECP assisted the client in identifying 8939 La Mesa Blvd., a 100% Leased multi-tenant office building, which provided stable cash flow and decent returns, while ECP worked to identify a buyer for the client’s existing building at 7323 Jackson Dr. ECP helped the walk the client carefully through the purchase, which evolved into a relatively complex escrow involving deferred maintenance and critical lease renewals that were instrumental to the financing in this transaction. Almost simultaneously, ECP was able to assist the client in selling his existing office building to a well-qualified owner/user and the transaction closed on time, without any major issues or complications. Thank you to everyone involved for their help in closing both escrows! Details of both transactions are included below.

Buyer: White Family Trust
Seller: Nash Family Trust
Address: 8939 La Mesa Blvd., La Mesa, CA
Price: $1,020,000 (+/- $176/SF)
Close of Escrow: 5/15/14
Buyer Broker: Brian Jenkins and Mike Conger (ECP Commercial
Seller Broker: Brandon Keith (Voit)
Escrow: Verna Gregory (Chicago Title)
Title: Mark Brady/Cameron Aldrich (Chicago Title)
Financing: North Island Credit Union via Marc Iacono (Real Estate Capital Advisors)

Seller: White Family Trust
Buyer: Brian Asbury, DDS
Address: 7323 Jackson Dr., San Diego CA
Price: $950,000 (+/- $323/SF)
Close of Escrow: 6/17/14
Buyer Broker: Tom Nicholas (Colliers International)
Seller Broker: Brian Jenkins and Mike Conger (ECP Commercial)
Escrow: Rob Shaw (Chicago Title)
Title: Mark Brady/Cameron Aldrich (Chicago Title)
Financing: 

ECP represented the buyer in this transaction. In just one of many owner/user transactions that ECP has handled, we were able to assist the buyer in a long and complex escrow, involving SBA Financing and significant tenant improvements. As complications regarding the improvements arose, ECP was able to manage the transaction carefully and still close within required timeframes. Thank you to everyone involved for their help in closing this escrow!

Address: 5400 Connecticut Ave., La Mesa, CA
Price $575,000
Close of Escrow: 4/30/2014
Seller: Keslik Family Trust
Buyer: DSWM LLC
Buyer Broker: Brian Jenkins and Mike Conger (ECP Commercial
Seller Broker: Brian Jackel (SBI Realty)
Escrow: Rob Shaw (Chicago Title)
Title: Frank Green (Stewart Title)
Financing: Marty Spuehler (Wells Fargo)
Construction: Jim Washam (JACOR Construction)

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