The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



INLAND EMPIRE NEWS
Printer-friendly Version   Email an Associate
Private Investor Buys Class A Office Asset in Temecula

6/26/20

A 35.3k sf office building in Temecula was purchased by a high-net-worth, private buyer for $5.18 mil ($147/sf). The property was sold by MIG Real Estate, out of Orange County.

Located at 1 Ridgegate Drive, the Class A office building was originally built in 2003. Recent property improvements include new asphalt, landscaping, building exterior and interior paint, as well as a new HVAC system. The building is occupied by 15 diversified tenants in the legal, title, technology and financial services industries. The average suite size is approximately 2k sf.

The property is one mile west of I-15, a major Southern California freeway that connects Temecula to both Riverside and San Diego Counties. Downtown Temecula, which features dozens of the area’s most popular dining, retail and entertainment options, is also one mile from the site.

CBRE’s Matt Pourcho, Gary Stache, Anthony DeLorenzo, Doug Mack and Bryan Johnson represented the seller in the deal. The all-cash buyer was represented by an outside firm.

“This is a high-quality and stable asset in one of Southern California’s fastest growing markets,” said Pourcho. “Several of the tenants have been in the building for well over ten years, and the building has enjoyed occupancy of over 90% for more than seven years.”





Return to the Archive page


 


 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media