{"id":1004113964,"date":"2015-02-20T15:08:08","date_gmt":"2015-02-20T23:08:08","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=327251"},"modified":"2022-12-08T19:28:23","modified_gmt":"2022-12-09T03:28:23","slug":"providence-capital-snaps-up-business-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/providence-capital-snaps-up-business-park\/","title":{"rendered":"Providence Capital Snaps Up Business Park"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

 <\/p>\n

A San Diego industrial property recently changed hands in a transaction arranged by Colliers International. In a $6.7 million deal, Shekhter Living Trust sold Soledad Business Park at 8250-8260 Camino Santa Fe to Providence Capital Group.<\/p>\n

\"\"<\/a>Located on a 3.7-acre site, the two-building, 60,986-square-foot property is currently occupied by eleven tenants. Thirty-five percent of the space is available for lease.<\/p>\n

Arnold Friedman and Evan McDonald of Colliers, who arranged the deal, will serve as leasing agents.<\/p>\n

In light of the area\u2019s improving fundamentals, Providence Capital intends to invest in improvements. \u201cThe new owner plans to modernize and upgrade the property to take advantage of these trends as well as its excellent location and visibility,\u201d said McDonald, a Colliers vice president.<\/p>\n

According to Marcus & Millichap, industrial absorption has been strengthening steadily in San Diego. Average vacancy stood at less than eight percent at the end of 2014, and the pace of absorption increased 10 percent year over year.<\/p>\n","protected":false},"excerpt":{"rendered":"

A San Diego business park is the subject of a recent transaction brokered by the local office of Colliers International. Shekhter Living Trust sold the property located at 8250-8260 Camino Santa Fe for $6.7 million to buyer Providence Capital Group. The transaction was arranged by Colliers International representatives Arnold Friedman and Evan McDonald, on behalf of both parties.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1608],"tags":[],"class_list":["post-1004113964","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-diego"],"acf":[],"yoast_head":"\nProvidence Capital Snaps Up Business Park - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/providence-capital-snaps-up-business-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Providence Capital Snaps Up Business Park\" \/>\n<meta property=\"og:description\" content=\"A San Diego business park is the subject of a recent transaction brokered by the local office of Colliers International. Shekhter Living Trust sold the property located at 8250-8260 Camino Santa Fe for $6.7 million to buyer Providence Capital Group. 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