September 26, 2016
Voit Real Estate Services closed two sale transactions at a San Diego asset for a total consideration of $1.65 million. The property involves a 35-year ground lease to Conroy’s Flowers, which has occupied space at the site for 34 years.
The buyer in both transactions was San Diego real estate investor Dan Floit. The Reynolds Family Trust sold the leasehold interest for $225,000; and in a separate transaction, Kenneth Swanson Inc. sold its fee simple interest in the land for $1.4 million.
Voit’s Mark Caston and Spencer Kerrigan represented both parties in the leasehold sale. The pair also represented the buyer in the land sale, while Kenneth Swanson Inc. was self-represented.
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