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August 20, 2019
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INLAND EMPIRE NEWS
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Class B Office Building in Riverside Sells for $238/sf

5/13/19

A private investor paid $4.975 mil for a 20.9k sf ($238/sf), Class B office building in Riverside. The single-story multi-tenant office building sits on just over two acres at 1201 Research Park Dr.

The property features a secured parking area with 110 parking spaces, drought resistant landscaping, and identity corner location. The building was built in 2003 and has no deferred maintenance. It was 100% occupied at the time of the sale by government agencies including The International Trade Administration which promotes trade and investment, and ensures fair trade at home and abroad through the rigorous enforcement of U.S. trade laws and agreements.

John Boyer, Nicholas Chang CCIM, SIOR, Richard Lee, SIOR, and Justin Kuehn with NAI Capital represented the seller, JD Guthrie LLC. According to Nicholas, the building is occupied by long term stable tenants that have invested over $400k in capital improvements on the property.




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