CORFAC News

Contact: 
Judith Brower/ Jenn Quader
(949) 955-7940
Jquader@browermillercole.com

San Diego, CA (October 29 ,2012) – Brandon Keith of Voit Real Estate Services/CORFAC International’s San Diego office has successfully directed the $10.4 million acquisition of a 60,870 square-foot office building in the Scripps Ranch area of San Diego on behalf of the buyer.  Keith, a Senior Vice President in Voit’s San Diego office, represented Double Black Diamond Properties, LLC, as the buyer in the transaction.

“Our client was seeking a high quality property for long term investment,” explained Keith.  “We were able to meet these needs by identifying this Class A facility with existing income from 50 percent of the building, and then securing a new, long-term lease with a financial services company for the balance of the building.”

The office property’s second floor is currently leased to Paychex, Inc., a publicly traded company specializing in payroll, human resources, and benefits outsourcing.  Paychex occupies approximately 30,435 square feet of space in the building on a seven year lease, according to Keith.

“Competition for quality product in the San Diego office market continues to increase, and this is especially true in desirable areas such as Scripps Ranch,” noted Keith.  “As competition increases, real estate values will begin to climb. With that in mind, buyers should seek real estate partners who know the local market well, and can help them to select the best deals in the area.”

The property is located at 10150 Meanley Drive in San Diego, Calif.

About Voit Real Estate Services/CORFAC International
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients' needs.  Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, asset management, tenant advisory and property management services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.

Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com. Voit For more information on CORFAC, contact 703.532.6160 or visit www.corfac.com.