Torrance, CA – January 27, 2011 – (RealEstateRama) — Lee & Associates, one of the largest national commercial real estate providers with regional expertise, recently closed the sale of a 27.96-acre land parcel in the Ocean Ranch business park in Oceanside, Calif. The transaction is valued at $8.8 million.
Principals Matt Weaver and Rusty Williams along with Founding Principal Patrick Miller of Lee’s San Diego-North office represented the seller U.S. Bank. The buyer, Hamann Companies, was represented by Ross Grano.
Hamann plans to hold the bank REO property for future development as a built-to-suit or potentially for industrial spec buildings in the future. Lee & Associates generated significant interest and activity for the property, including eight offers, despite a depressed industrial market in San Diego County.
“Hamann controls most of the competing industrial land in Oceanside so this property fits perfectly into their portfolio,” says Matt Weaver. “We hope this is a sign for positive news ahead in 2011.”
About Lee & Associates
Celebrating 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 41 locations across the nation including California, Arizona, Georgia, Idaho, Illinois, Indiana, Michigan, Missouri, New Jersey, Nevada, Texas and Wisconsin. With a roster of more than 600 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.