CBRE has arranged the $6 million off-market sale of a 23,000-square-foot industrial building in El Cajon, CA. The firm’s Matt Pourcho, Matt Harris, Anthony DeLorenzo and Bryan Johnson represented the seller, Chris Nelson with Wavy Properties LLC and Royal Estate Development LLC. The buyer was Samnani Holdings, LLC.

The multi-tenant property is 100% triple net leased among five suites, averaging just over 4,500 square feet in size. The 48-year-old asset was upgraded in 2021 and is located slightly east of Interstate 8 at 635 Front St., just two miles from major retail businesses and Parkway Plaza.

“This was a great example of how out-of-town 1031 capital can continue to perform strongly within San Diego County,” said Pourcho in a news release. “While the property offered negative leverage, there was a nice mark-to-market opportunity for the buyer.”

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