A large industrial building in Buellton has been purchased by an Arcadia-based investment firm, according to a commercial real estate firm involved in the sale.
Positive Investments Inc. purchased the 19,296-square-foot building located at 73 Industrial Way for just under $3.8 million, said a spokesman for Lee & Associates Central Coast.
The multiple-tenant investment property located at the end of Industrial Way consists of 14 separate units and is fully leased, the spokesman said.
Positive Investments is a real estate investment and property management company founded in 1976 that invests in multifamily, office and hotel properties on behalf of its principals, institutional joint-venture partners and select private investors.
Lee & Associates is a brokerage firm that deals with retail, office, industrial, land and vineyard sales and investment properties.
Al Segal, senior associate with Lee & Associates’ Los Olivos office, and Jeff Allen, associate with the company’s San Luis Obispo office, represented Positive Investments in the transaction.