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5/01/20
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Westcore acquired a 65.6k sf, industrial warehouse on 10.64 acres in Temecula for $10.8 mil ($165/sf). Currently vacant, the property is located at 27731 Diaz Rd, west of I-15 and north of Rancho California Rd.
The warehouse offers several in-demand features, including 14 dock-high doors, 30-foot clear height, cross-dock configuration and a large decomposed granite secured yard. Westcore plans to refresh the warehouse’s existing office space, repaint inside and out and pave the unimproved dirt that fronts Diaz Rd.
Westcore was represented in the transaction by Brad Yates and Sefan Pastor of Colliers International. The seller, an individual, was repped by Barret Woods of Lee & Associates.
According to Westcore’s Managing Director, Hack Adams, the company expects the facility’s occupancy flexibility will enable it to appeal to a wide range of users. The property offers significant extra land, making it well-suited for a tenant who wants expansive yard space, trailer parking or even additional square footage.
Temecula’s industrial real estate vacancy rate is under two percent. According to Colliers, its industrial base sits at 11.344 msf with an average lease rate of $0.80 per square foot net.
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