SOLD - 13,140 SF
IPA announces the successful sale of 1301 Vanguard Drive in the Channel Islands Business Center. Mike Wax of IPA represented the buyer, Pacific Register Company in the purchase. The seller in the transaction was motivated to close before year's end to avoid the "Fiscal Cliff" changes in capital gains coming for 2013. The buyer took advantage of the historically low interest rates available on the SBA 504 program which enables 90% financing. Special thanks to Eric Mandell of Wells Fargo who financed the deal.
The 13,140 sq. ft. industrial building was improved with 3,900 sq. ft. offices and featured two 12' x 14' loading doors and 600 amps of 277/480 volt power.The buyer will be utilizing the facility for manufacturing of its decorative register products. (For more information see: http://www.pacificregisterco.com/)