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September 24, 2020
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Ice Manufacturer Buys 24k sf Building in Lake Elsinore


A newly constructed 24k sf industrial building in Lake Elsinore sold for $3.46 mil ($144/sf). Built in 2018, the property sits on 1.47 acres at 470 3rd St.

The property features 2.8k sf of office space, 1.4k sf of mezzanine area, skylights, two dock-high and two grade-level loading doors and 59 parking spaces. The asset is within Fairway Business Park, which currently consists of three buildings with other future phases to be developed.

Stan Nowak and Cody Lerner with Avison Young represented the buyer, an entity of San Diego Ice Company, an ice manufacturer and distributor. The company will fully occupy the building for use as its ice manufacturing and distribution facility. The seller, TOLD Properties LLC, was represented by Lee & Associates.

“San Diego Ice Company has been extremely successful in the San Diego region and is now expanding its service territory and client base to the greater Inland Empire area,” noted Nowak. “The company sees this growing region as one that is underserved with pent-up demand.”

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