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10/22/25
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In a recent Inland Empire trade, LBGD Investment Group LLC purchased a 25.9k sf manufacturing facility in Corona for $8.475 mil ($327/sf) as part of a larger 1031 Exchange requirement. The property is located at 2900 Palisades Drive, east of Hwy 71 and adjacent to the south side of Hwy 91.
Mike Vernick, SIOR, with VOIT Real Estate Services represented the buyer in the transaction. The seller, Jon R Gerwin & Kathryn Gerwin, was repped by Sean Baney of Centennial Advisors.
Vernick also represented LBGD Investment Group in the acquisition of three other industrial assets in order to satisfy the 1031 exchange.
“There were multiple purchase offers on this property, as it was an ideal 1031 exchange upleg for an investor, given the favorable in-place revenue stream and modern property features,” noted Vernick. “This was a good example of how appropriately priced, high-quality industrial assets are generating substantial buyer interest even in today’s more cautious real estate environment.”
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