July 10, 2017
Philadelphia-based Exeter Property Group acquired a 54.4-acre land site in Riverside, CA from an affiliate of Denver-based Amstar for $12.5 million. Located at Alessandro Boulevard and San Gorgonio Drive, the property is fully entitled and ready for construction of two industrial buildings totaling 814,630 square feet.
Building 1 is a 598,190-square-foot cross-dock facility and Building 2 is a 216,440-square-foot facility. Construction is scheduled to commence in Q4 2017. Lee & Associates will be marketing the property for lease.
Lee & Associates’ Mario Calvillo and Bill Heim represented both parties in the transaction.
“This acquisition provided Exeter with an immediate development opportunity, and ability to put boots on the ground,” said Calvillo.
For comments, questions or concerns, please contact Dennis Kaiser