March 1, 2017
Thousand Oaks, CA-based Silagi Development & Management acquired 43.2 acres within Meridian Business Park in Riverside, CA for $8.7 million from an unnamed seller. The four development sites can hold a total square footage of 585,220 square feet of industrial and commercial space, which works out to 29 buildings.
Lee & Associates’ Mario Calvillo and SASSC’s Julia Corona-Thompson represented the buyer. Lee & Associates’ Jon Friesen and Brian Bielatowicz advised the seller.
Meridian Business Park is a 1,290-acre, mixed-use development along Interstate 215, with more than 3.5 million square feet built and occupied. Silagi’s initial development phase is at Alessandro and Meridian Parkway and is slated to commence by Q4 2017.
Development sites include:
A – 5 industrial buildings, 175,960 square feet
B – 10 industrial/commercial/retail buildings; one 2-story office building, 165,690 square feet
C – 1 (one) 3-story office building, 88,410 square feet
D – 10 industrial/showroom buildings, two single-story office buildings, 155,160 square feet
For comments, questions or concerns, please contact Dennis Kaiser