1031 Exchange Completed!
Mike Wax represented the buyer of 300 Bernoulli Circle, Oxnard in the $1.3 million transaction. The buyer recently sold their previous location to an all cash investor. The new larger location of 14,000 sq. ft. will enable the buyer to expand their machine shop business. The buyer utilized Investment Property Exchange Services to facilitate an IRS Section 1031 tax deferred exchange. The new building is located in the Seagate Business Park and was constucted in 1990. Eric Mandell, Senior Vice President at Wells Fargo, arranged the new commerical loan.