2,675,000 Sale of Industrial Building In Temecula, CA
Avison Young brokers $2,675,000 sale of a 25,182-square-foot industrial building in Temecula, CA
Temecula, CA – Avison Young announced that it has brokered the $2,675,000 sale of 43223 Business Park Drive, a 25,182-square-foot (sf) industrial building in Temecula, CA.
Avison Young Principal Stan Nowak, who is based in the company’s San Diego office, represented the seller, a locally based owner-occupant. Cody Lerner, a Senior Associate in Avison Young’s San Diego office, represented the buyer,Forum Capital, LLC, an owner-user who will deploy the facility for auto parts distribution.
Built in 1991 and situated on a 0.57-acre site, the property is within Rancho California Business Park and is less than a mile from Interstate 15. The building features 22-to-24-foot clear-height warehouse space as well as approximately 6,000 sf of office premises in two stories which include a reception area, conference room offices, restrooms and a large break room.
“This facility is well-located in a southwest Riverside County location that is experiencing a drought of available industrial warehouses in the 50,000-sf-and-under range to service the dynamic amount of growth in the small-business industrial sector,” comments Nowak. “The buyer will expand its local footprint four to five times its current size upon full occupancy of the building.”
The facility was previously owner-occupied but was vacant at the close of escrow. The seller also expanded and consolidated multiple facilities in Temecula under one roof as further testimony to the health and desirability of the local and regional market economy in this sector.
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.