Submitted by Coldwell Banker Commercial® - Almar Real Estate Group, Inc.

As published in The Daily Transcript, October 6, 2004

One of the most successful Coldwell Banker Commercial franchise owners in the country, the Almar Real Estate Group, has recently experienced monumental success at its North County Properties office with over $14.2 million in sales at Ocean Ranch in Oceanside.

David Onosko, SIOR, and Ron King, SIOR, of Coldwell Banker Commercial-North County Properties, recently facilitated the sale of Lots 10 and 11 within the Ocean Ranch Corporate Center to Cruzan | Monroe Investments LLC for $10.57 million.

The San Diego-based real estate acquisition and development company plans to build a 520,000-square-foot business park called La Pacifica on the 30.34-acre site, with construction of the first phase scheduled to begin in early 2005.

The first phase of La Pacifica at Ocean Ranch will consist of a three-building industrial and corporate complex for distributions and manufacturing tenants. The balance of the site will be offered on a build-to-suit basis.

"This is an exceptional parcel located in the fast-growing Oceanside area that will provide companies looking to expand with one of the few options for large blocks of contiguous space in San Diego County," said Dennis Cruzan, principal with Cruzan | Monroe. "The location of this property will cater to firms from San Diego as well as those in Orange County and other communities to the north."

At the same time, Onosko and King were also completing an additional sale of Lot 14 at Ocean Ranch to Venture Development Corp. LLC for $3.7 million. The property is 7.08 acres and Venture Development intends to build 95,000 square feet of office/industrial condos on the land.

Venture Development is a privately owned real estate building and development firm based in Mill Valley, Calif., that has been very successful in developing office/industrial condos throughout Northern California.

Onosko and King exclusively represent Stirling Enterprises, the master developer of the 400-acre Ocean Ranch Corporate Centre. The company is a full-service real estate development company in Southern California with 17 years of experience in $2 billion worth of real estate projects.

"Stirling seeks out true 'diamond-in-the rough' development opportunities which improve the surrounding communities through the increase of local jobs, economic revitalization and lifestyle enhancements," said Dougall Agan, partner with Stirling Enterprises. "Ocean Ranch Corporate Centre is a great example of this because it has increased jobs in Oceanside and promotes a healthy live-work lifestyle, providing tenant employees close proximity to housing."

Coldwell Banker Commercial - Almar Real Estate Group consists of the following offices and can be found online at www.cbsandiego.com:

North County Properties, Carlsbad, (760) 602-4800

Towne Centre, La Jolla, (858) 200-8888

Temecula, South Riverside, (909) 296-9800

South Bay, Los Angeles, (562) 493-8200