Secret to quick leases: lots of parking
November 16, 2011
By: Roger Showley

The commercial real estate market may be relatively slow these days, but that's not what happened in Kearny Mesa in a recent deal.

According to broker Dave Odmark of Cassidy Turley BRE Commercial, as soon as the 100,000-square-foot, two-story office building at 6602 Convoy Court was listed in May, he was inundated by tenants wanting the space. ...

... After spending about $4 million to gut the building and install new tenant improvements, two companies moved in after signing $11.7 million in leases:

  • AutoAnything, a company that markets auto parts, signed a six-year lease for 41,421 square feet.
  • California College San Diego, a for-profit trade school specializing in medical training, signed an eight-year lease for 39,381 square feet.

Odmark represented the building owner, Chestnut Properties, and Tony Russell of Jones Lang LaSalle and Ron Magnaghi of Studley represented the tenants.

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