Four sales at the Burke Sycamore Business Center on La Mirada in Vista
 
06/02/06

As published in The San Diego Daily Transcript, June 2, 2006

Sales of four buildings in the second phase of the Burke Sycamore Business Center on La Mirada Drive, in Vista, 92081, have been recorded for a total value of nearly $4.1 million.

The sales in April and May include

  • 2345 La Mirada Drive acquired for $1,994,500 by James D. Stuart and Jacquelyn A. Stuart as trustee of a trust, 3512 Celinda Drive, Carlsbad, 92008. The acquisition was financed with a loan of $1,595,400 from Southwest Community Bank

  • 2379 La Mirada acquired for $687,500 by David Joshua Levy and Anthony Antonio Furmusa (each as to 50 percent), 3347 Chicago St, San Diego, 92117. The acquisition was financed with a loan of $359,390 and a construction loan of $250,250, both from California Bank and Trust

  • 2381 La Mirada acquired for $670,500 by Candito Enterprises, LLC, a California limited liability company with Rudolph V. Candito as manger, 2381 La Mirada Drive, Vista, 92081. The acquisition was financed with a loan of $750,000 from Vineyard Bank.

  • Building No. 26 acquired for $740,000 by Roger L. Sather.

    • The seller of the properties (assessor's parcels 217-251-43, 44 and 45) was Burke Sycamore Partners, L.P., a California limited liability company.

    David Onosko, Ron King, Adam Molnar, Bob Willingham and Mike Scott from the North County office of Coldwell Banker Commercial-Almar Real Estate Group are handling sales for the second phase, priced at $140-$195 per-square-foot.

    Since March 2006, the developer, Santa Ana-based Burke Development, reports it has had sales of 22 industrial buildings totaling 150,000 square feet, within the second phase.

    The second phase consists of small- and mid-sized one- and two-story industrial buildings ranging from 3,420 square feet to 26,509 square feet. Some units will have 60 percent office build-out and larger buildings will feature dock-high loading. Other features include oversize grade-level loading, flexible power, and minimum clear height up to 22 feet.

    The master-planned business park, developed by Burke Development principals Brian Burke and Pat Patterson, occupies 50 acres in the south Vista industrial area.

    Construction on the first phase was completed in summer 2004. It consisted of 12 industrial buildings, ranging from 3,948 square feet to 27,566 square feet totaling 150,000 square feet. The buildings were all sold within approximately two months for a total consideration of more than $17.6 million.

    The seller of the properties at Sycamore Drive and La Mirada Drive was Burke Sycamore Partnership LLC. The transactions in the first phase include:

  • The building at 2316 is a 5,882-square-foot building that Edward Tsai purchased $647,020. The property is on the market for lease.

  • Glen Reid LLC purchased the 4,228-square-foot building at 2318 La Mirada for $465,080 and is also in the process of leasing.

  • ASK Properties acquired the 3,948-square-foot building at 2320 La Mirada for $434,280 and is in the process of leasing.

  • Charles Ball acquired the 5,560-square-foot building at 2322 La Mirada for $661,050 as an investment.

  • Keith Mottus paid $503,500 for the 4,028-square-foot building at 2304 La Mirada.

  • The Meisinger Trust acquired two buildings in the 2300 block of La Mirada. One of these is a 5,292-square-foot building that sold for $661,500. The other is a 3,952-square-foot building that sold for $508,808.

  • Electrical Sales Inc. paid $2.67 million for the 27,500-square-foot building at 2300 La Mirada.

  • The 22,303-square-foot building at 2302 La Mirada was acquired for $2.2 million.

  • Paul Schoch, a cabinetmaker, paid $451,136 for a 4,028-square-foot building at 2306 La Mirada.

  • Manish Chaudhary, an India-based financial services firm, has acquired a 12,687-square-foot building at 2310 La Mirada for medical uses for $1.52 million.

    • Larry Strickland, Shane Strickland and Adam Robinson of Lee & Associates represented Burke Development in the first phase.