Oceanside Industrial Property Sells for $9.2 Million


A San Diego buyer listed as Oceanside Avenida Del Oro LLC has purchased a two-building Oceanside industrial property for $9.2 million, according to brokerage firm Faris Lee Investments.

The seller of Cornwell Business Center, with industrial and office elements at 1945 and 1949 Avenida Del Oro, was Phoenix-based Oceanside Equities LLC. The buyer was represented by Ryan Litrich of Marcus & Millichap, and the seller was represented by Faris Lee Investments’ Jeff Conover and Scott DeYoung.

The 5.71-acre Cornwell Business Center totals 49,569 square feet and was built in 2000 within the master-planned Rancho Del Oro development. It was 95 percent occupied at the time of sale by eight tenants, the largest of which is the State of California, which occupies 50 percent of the complex.


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