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1/27/10
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Master Development Corporation (MDC) just closed its second major Corona industrial deal in the past 30 days. In the latest transaction, Duralum Products Inc paid $5.8 mil for an 82.4k sf ($70/sf) facility located at 2485 Railroad St, near the interchange of the 91 and 71 freeways. Duralum, which manufactures aluminum patio covers and enclosures, is relocating from a smaller location, also in Corona.
Tim and Landon Hawke of Strata Realty teamed up with Walter Frome and Bill Livesay of Voit Real Estate Services to represent the seller, MDC Crown LLC, a partnership between Newport Beach-based MDC and an undisclosed institutional investor. Duralum was repped by Brian Hall and Larry Null of Lee & Associates’ Riverside office.
This deal follows another recent Corona transaction where MDC secured a 37-month lease for pet food maker and distributor Waggin Train LLC for a 122k sf property located one mile east of 2485 Railroad St, as previously reported on RENTV. The newly leased space is located within MDC's West Corona Commerce Center, a 322k sf warehouse/distribution building located at 1350 Railroad St in Corona. MDC is currently marketing the remaining 200k sf in the building with an eye towards attracting a Corona business expansion or Orange County relocation.
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