March 4, 2020
Avison Young has completed the sale of Temecula Corporate Park, an 86,882-square-foot multi-tenant office and industrial park located at 43379, 43385, 43391 and 43397 Business Park Dr. in Temecula, CA.
Avison Young’s Alan Pekarcik and Chris Smith represented both the seller and buyer, private investors from Orange County and Los Angeles, respectively.
The property closed at a cap rate of 6.45%, and a price per square foot of $125.46.
Situated on 6.09 acres and built in 2002, Temecula Corporate Park is approximately 97% occupied and consists of one two-story office building and three single-story industrial buildings. The property is near the 15 freeway and the major cross streets of Diaz Road, Rancho Way and Rancho California Road.
“The Temecula area has been a hotbed for capital investment of industrial and office assets as it offers a strategic, freeway-close Southern California location, an abundant workforce, and a desirable, amenity-rich residential community,” said Pekarcik.
For comments, questions or concerns, please contact Chris Egger