$1.4 Million Sale of 8.5 Acres of Freeway-Adjacent Land in Perris, CA
Avison Young brokers $1.4-million sale of 8.5 acres of freeway-adjacent land in Perris, CA
Perris, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has brokered the $1.4-million sale of 8.5 acres of land in Perris, CA, a city within the Inland Empire region of Southern California.
Avison Young Principal Stan Nowak, who is based in the company’s San Diego office, represented the buyer-developer team of Adham Abdulla and Wadeed Abdula, as well as the seller, The Zachary 1992 Family Trust.
Situated directly off the 215 freeway, the site provides 930 feet of unobstructed freeway visibility and is at the major cross streets of Rider Street and Frontage Road. Located in Riverside County, the site is within a growing big-box industrial property hub with corporate neighbors that include Ross Dress for Less, Lowe’s, and Wayfair, among others.
The buyer has not yet determined development plans. The land is zoned business professional office (BPO), which allows for a variety of uses including commercial, professional office and industrial uses
“This is a noteworthy transaction, as land sales in this region have been dominated by developers primarily looking for big-box industrial development projects,” comments Nowak. “This site will eventually be developed for much needed professional services and/or entertainment-oriented uses in Perris. Additionally, sites that are directly visible from the 215 freeway are becoming more difficult to find as the region continues on its path of progress.”
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 84 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.