IE Business Daily Business news for the Inland Empire.
A multi-tenant office and industrial park in southwest Riverside County has been sold.
Temecula Corporate Park, which covers nearly 87,000 square feet in the 43300 block of Business Park Drive, sold for $10.9 million to a private investor in Los Angeles whose name was not released, according to a statement.
The buyer was an Orange County investor who also wished to remain anonymous.
Avison Young’s Orange County office represented both parties in the transaction. The sale price worked out to about $126 per square foot.
Built in 2002, Temecula Corporate Park sits on seven acres. It’s near Interstate 15 and three major cross streets: Diaz Road, Rancho Way and Rancho California Road. The project includes three single-story and one two-story office buildings and is about 97 percent occupied, according to the statement.
Avison Young is a global commercial real estate firm based in Toronto.
