October 4, 2018
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Irvine, CA-based MCA Realty expanded its Inland Empire portfolio with the acquisition of two assets, a retail property in Moreno Valley and an industrial asset in Temecula, CA. The assets were acquired for a combined $26.5 million.
The Moreno Valley acquisition includes four multi-tenant retail buildings and two retail boxes totaling 117,191 square feet, as well as four developable pads encompassing 5.24 acres at Stoneridge Towne Centre (pictured). The firm acquired the assets at 27110 to 27220 Eucalyptus Ave. for a combined total of $16.5 million.
The retail assets are 88%-occupied with Best Buy and West Elm currently occupying two box spaces. CBRE’s Phil Voorhees, Jimmy Slusher, James Tyrrell and John Read represented both buyer and undisclosed seller.
MCA Realty also picked up Diaz Commerce Center, a 131,577-square-foot industrial asset at 27711 Diaz Rd. in Temecula, which was purchased for $10 million. Lee & Associates’ Scott Stewart represented the buyer. Tobias Commercial’s Mahlon Tobias represented the unnamed private seller.
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