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4/22/21
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Davenport Partners paid $6.95 mil for a 39.4k sf ($177/sf) office building in Corona. Built in 1990, the property is located at 1101 California Ave, just west of I-15 off of Magnolia Ave.
The two-story garden-style office complex is strategically located in one of the most affluent cities in the Inland Empire office market. The building is well-maintained and was 91% leased at the time of sale to a diverse mix of tenants. It is in a central location, with immediate access to the 91 and 15 Freeways.
John Bosko and Bob Bush with NAI Capital Commercial’s Investment Services Group represented the seller, Rimpau Calif Square, in the transaction. According to Bush, well-maintained, multi-tenant office buildings in strategic locations, like this one in Corona, are seeing investor demand.
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