Newmark Grubb Knight Frank today announced that Charles Adolphe, managing director and Bryan Teel, director recently completed two sale transactions in the San Diego market with a combined total consideration of $1.7 million.
In the first transaction, Adolphe and Teel represented private investor Nahum LLC in the purchase of a 13,458-square-foot industrial property located at 1641 Pacific Rim Court in Otay Mesa. Newmark Grubb Knight Frank will also handle leasing for the property, which was sold by Barragan Family Trust for $825,000.
In a separate transaction during the same week, the team represented Manalo Family Trust in the sale of 2437 Fenton St. in Chula Vista. Located in the master-planned community of Eastlake, the 7,698-square-foot office/R&D building was purchased for $869,879 and will be used for medical office space. Rudy Mendoza of SB Industrial Properties represented the buyer in this transaction.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank, together with its affiliates and London-based partner Knight Frank, employs more than 11,000 professionals, operating from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.