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3/06/20
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A Los Angeles-based private investor acquired Temecula Corporate Park, an 86.9k sf, multi-tenant office and industrial park in Temecula, in a recent $10.9 mil transaction. The property is located at 43379, 43385, 43391 and 43397 Business Park Dr.
Situated on 6.09 acres and built in 2002, Temecula Corporate Park is approximately 97% occupied and consists of one two-story office building and three single-story industrial buildings. The property is near the 15 Fwy and the major cross streets of Diaz Rd, Rancho Way and Rancho California Rd.
Alan Pekarcik and Chris Smith with Avison Young represented the seller, an Orange County-based private investor, as well as the buyer, a Los Angeles-based private investor. The property closed at a cap rate of 6.45% and a price per square foot of $125.46.
Temecula is a place of rolling vineyards, historic traditions and modern conveniences combined to offer entertainment for people of all ages. Covering just over 30 square miles, Temecula is centrally located along the I-15 and I-215 freeway corridor in southwest Riverside County, just north of the San Diego county line.
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