Vista Industrial Asset Fetches $5.6M
- Aug 10, 2013
A 65,000-square-foot industrial asset in Vista has been acquired by B Group Holdings Inc. for $5.6 million. Located at 1081 Poinsettia Ave., the property is entirely leased to Brown Safe Manufacturing, which uses the building as its headquarters and manufacturing facility. Last year Brown signed a 90-month, $3.4 million lease on the property.
Joe McDermott of Cushman & Wakefield Inc. represented the buyer, while Colliers International’s Henry Zahner and John Busse represented the seller, Symphony Asset Pool XIV.
According to Zahner, a Colliers senior vice president, the transaction is “a continued indication of the slowly improving economy and financing markets.”
According to Colliers, Brown Safe Manufacturing will continue to operate the industrial facility for the remainder of its contract. The facility also includes 9,000 square feet of office space, upgraded sprinkler facilities and extensive glass lines.
The sale was an “opportunity to once again work with Symphony Asset Pool XIV and the buyer’s agent to successfully complete the transaction,” Zahner said.