Industrial space leased in Spring Valley for $2.8 million

Layfield Environmental Systems Corp. has leased 67,344 square feet of industrial space at 2500 Sweetwater Springs Blvd. in Spring Valley from Rancho San Diego Industrial Center LLC. The property was leased for seven years at $2.8 million. The lessee was represented by Kerry Schimpf, of Cassidy Turley San Diego. The lessor was represented by Ron Bement, of CBRE (NYSE: CBG).

In early 2003, the 17.6-acre, approximately 205,000-square-foot property, formerly occupied by U.S. Elevator, was sold for $7.35 million. The new ownership began a renovation of the property with plans to lease the building as multitenant industrial space including 245,000 square feet of paved, fenced outside storage yard. A year later, the one-building, 165,000-square-foot San Diego Industrial Center was opened. BCL Ventures LLC is the managing member of the center ownership, and consists of Casey Brown, Michael Colarusso and Paul LeBeau. An early tenant was Pacific Marine Sheet Metal, with a 10-year lease of 104,229 square feet. In late 2009, Quality Iron Products Inc. leased 10,000 square feet for 84 months at $785,238.