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| Randy LaChance |
San Diego, CA (Feb. 9, 2015) - The San Diego office of Voit
Real Estate Services has completed the $10.819 million sale of a five-acre land
site in the Kearny Mesa submarket of San Diego, California on behalf of its
client, the Cook Inlet Regional Indians (CIRI) of Alaska.
The property was purchased by the State of California, which
plans to construct a California Highway Patrol office on the site, according to
Randy LaChance, Senior Vice President, SIOR in Voit Real Estate
Services’ San Diego office.
“The Voit team identified the opportunity for our client
upon learning that the State of California was searching for a new Highway
Patrol site in central San Diego County,” says LaChance.
“We were successful in presenting this opportunity and
facilitating a sale that benefitted both parties.”
LaChance notes the land is located on the corner of Kearny Villa
Road and Ruffin Road. “We knew this
vacant site is well-positioned for new development based on its size and
proximity to the I-15 freeway,” he says.
Voit represented the seller, the Cook Inlet Regional Indians
(CIRI) of Alaska, who had owned the site since acquiring it in a U.S.
Government auction in 1989 when Highway 52 bisected the Miramar Base.
According to LaChance, the CIRI tribe had been working with
the Voit team and a local development company since 2006 in an effort to
entitle the property for the development of a 175,000 square foot office
tower.
“The proposed office development was understandably stalled
during the Great Recession, and the entitlement process resumed in 2013,”
explains LaChance. “The opportunity to
sell the land to the State of California emerged as a better solution for our
client, and we were able to complete the sale quickly and seamlessly.”
Voit Real Estate Services’ Randy LaChance, Senior Vice
President, SIOR; Glen Volk, Senior Vice President, SIOR; and Paul
Brown, Vice President represented the Cook Inlet Regional Indians as the
seller in the transaction. The State of
California represented itself as the buyer.
For a complete
copy of the company’s news release, please contact:
Jenn Quader /
Amanda Brenner
Brower, Miller
& Cole
(949) 955-7940
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