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Corona Industrial Sale Comp Trades at $119/sf
11/06/14
A 31.1k sf industrial building in Corona was acquired for $3.7 mil ($119/sf). The property is located at 369 Meyer Circle, just north of the 91 Fwy and west of I-15. The property was purchased in an off-market transaction by the existing tenant, who has occupied the building since 2010. The tenant took advantage of excellent financing provided by Union Bank and CDC Small Business Finance (SBA 504 Loan) to purchase a building for no more than they were paying in monthly rent. Larry Null, SIOR, senior vice president of the Lee & Associates Riverside office, represented the buyer, CFA LLC. Scott Smith, senior vice president of the Lee & Associates Phoenix office, represented the seller, Maddie LLC.
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