Office property fetches nearly $6 million

By on June 20, 2018
Inland Empire office market continues to improve

A 33,300-square-foot office building in Temecula has been sold.

Temecula Oaks, which covers 2.5 acres in the Rancho California Business Park, sold recently for $5.8 million, according to Toronto-based Avison Young, an international commercial real estate firm.

The property, at Rancho California Road and Business Park Drive, was built in 1985 and upgraded three years ago.

The Class A-structure is 93 percent occupied, has 156 parking spaces and is next to the future site of a Home2 Suite, which is part of the Hilton Hotel chain.

Avison Young represented the seller, KPN Industrial, LLC in San Diego, and the buyer, Santa Ana-based Spruce Grove, Inc.