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Riverside Industrial Park Trades in Deals Worth $30 Mil

7/31/19

Mira Loma Industrial Center South, a 172.9k sf industrial business park in Riverside County’s Jurupa Valley, has sold for nearly $30 mil, or about $173.50/sf, in five separate deals with different buyers. The project, located at De Forest Circle and Nobel Court, is part of the master-planned, 269.2k sf development by Davis Partners.

Mira Loma Industrial Center South consists of five freestanding buildings: Building 7 (31.1k sf), Building 8 (30.7k sf), Building 9 (39.7k sf), Building 10 (33.8k sf), and Building 11 (37.6k sf). The property was completed in June 2019 and is the only new construction completion in the Jurupa Valley/Eastvale area this year, according to Cushman & Wakefield Research.

Mira Loma Industrial Center South offers a business park environment with private secured yards, 28’ to 30’ minimum clear heights, 800 amps of 277/480 volt power, and ESFR fire sprinkler systems. It is ideally situated in the Inland Empire with immediate access to the 60 Freeway and Interstate-15.

Milo Lipson, Tal Siglar, Ryan Velasquez, and Andrew Starnes from Cushman & Wakefield’s Ontario office represented Davis Partners in the transactions. Cushman & Wakefield is also marketing Mira Loma Industrial Center North for sale, which consists of 11 industrial condo units from 6.1k sf to 27k sf.

According to Siglar, Jurupa Valley currently has a 2.9% overall vacancy rate. And, there is just a 2.1% vacancy rate for buildings in the size range of 25k sf to 50k sf in the Inland Empire West market.




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