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9/28/17
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Circle Industrial LLC purchased a 9.87-acre sale of industrial-zoned land located on Harley Knox Blvd in the Inland Empire city of Perris. The land was sold by O3M LLC.
The buyer plans to develop an approximately 210k sf industrial building at the site, situated at the southwest corner of Harley Knox Blvd and Redlands Ave. Last year, Circle Industrial completed an adjacent two-building project totaling 594.4k sf of space.
Dean Washle, Mark Kegans and Ron Washle of NKF’s Ontario office, represented the both parties in the transaction. According to NKF’s 2Q17 Industrial Market report for the Inland Empire, industrial vacancy has been under five percent for 17 consecutive quarters, while the average asking rent is hovering near a record high.
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