Jack Kappe And Michael Ortwein Of Focus RE Purchase 16-Unit Industrial Property For $7.2M

The property asset involved in this transaction is a 16-unit small bay industrial property located at 1310 Industrial Avenue in Escondido. The asset has a total square footage of 36,450 and was sold for a price of $7,200,000, which equates to a price per square foot of $197. This property, known as the Duly Industrial Park, has been under the ownership of the same family since its construction in 1978.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $7,200,000
• Buyer: Jack Kappe & Michael Ortwein - Focus RE
• Seller: Ronald Duly, Trustee/Escondido Commercial Property
• Buyer's Representative: Rusty Williams & Chris Roth - Lee & Associates
• Seller's Representative: Hank Niezen & Steve Nelson - Central Commercial Group
• Market: Escondido

The deal involved the participation of Rusty Williams and Chris Roth, who represented the buyers, while Hank Niezen and Steve Nelson acted on behalf of the seller. This transaction underscores the continued interest in industrial properties within the Escondido market.