|
|
11/17/14
|
In a large industrial acquisition in the Inland Empire, Scuderia Development LLC, based out of China, purchased a 600k sf property within Meridian Business Park in the city of Riverside. The property, situated on 27 acres at 14600 Innovation Dr, was sold by Newcastle Partners for $43.5 mil ($72.50/sf).
San Francisco-based Newcastle Partners completed construction of the property, located south of Alessandro Blvd and west of I-215, in late 2013. The Class A distribution facility includes 4.2k sf of office space, 93 dock-high doors, two grade-level ramps, 145 trailer storage stalls, 245’ secured truck court, ESFR sprinkler system, 32’ warehouse clearance, 400 amp service expandable to 4,000 UGPS and is LEED Silver certified.
Phil Lombardo and Chuck Belden of Cushman & Wakefield represented Newcastle Partners as well as Scuderia Development in the deal. The buyer plans to occupy the facility for use in warehousing and distribution of aluminum products.
Meridian Business Park is a 1,290-acre master-planned commerce center that includes major corporate users including Sysco Corp., Yucaipa Company (Fresh & Easy), Kia Motors, and McLane Foodservice. Currently, Newcastle Partners has a total of 1.37 msf of spec Class A building activity at Meridian Business Park. The firm recently began construction on 13 acres of land for an industrial distribution facility totaling 260k sf with completion anticipated for fall of 2015, as well as a 510k sf distribution building with completion expected in the fourth quarter of 2015.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
