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1/12/21
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In a Temecula industrial buy, The Garmon Corporation paid $12.6 mil for a 91.7k sf ($137/sf) building. Located at 43350-43352 Business Park Dr, the property is north of Rancho California Rd and west of I-15.
The building, which was constructed in 1990, is situated on a 4.87-acre parcel and features 22.9k sf of office build-out and both ground level and dock-high loading. Mike Pappas of Kidder Mathews and Rik Floyd of Rik Floyd Real Estate Services represented the buyer, The Garmon Corporation.
Scott Stewart and Gordon Mize of the Lee & Associates Temecula Valley office represented the seller, Temecula BP LLC.
Stewart noted “We initially had the property on the market for lease. But, due to lack of supply of owner/user for sale projects in the market, it created a unique opportunity for the buyer to purchase the entire building, occupy the vacant half and gradually grow over time.”
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