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In one of the largest industrial sale transactions in the San Diego market in 2013, Newmark Grubb Knight Frank Director Bryan Teel represented Longkin Properties in the disposition of a 109,367-square-foot industrial property located at 1111 Pioneer Way in El Cajon, Calif. The buyer, 1111 Pioneer Partners, LLC, paid $6.0 million for the warehouse building, which is situated on a 4.4-acre parcel.
The managing members of the new ownership entity are principals of Vision Systems, an architectural products provider that occupies approximately 25,000 square feet of the warehouse. The Toro Company currently leases the remaining warehouse space. Mr. Teel had previously represented the landlord in both of these leases.
The buyer was represented by James Renner of Inland Pacific Commercial Properties.
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