IE Business Daily Business news for the Inland Empire.
Avison Young recently completed the sale of a logistics facility in southwest Riverside County for $9.3 million.
The building, at 40761 County Center Drive in Temecula, is occupied by Walmart, which agreed to lease the building for three more years after the sale was completed, according to a statement.
The seller was Hill Properties/Rustica-Hill Temecula LLC , the buyer Kiwi II Construction in Murrieta. Avison Young represented both parties.
Built in 1988, the structure covers 102,320 square feet and sits on five acres. It is about one mile from the Winchester Road exit on Interstate 15.
“The Temecula industrial market continues to experience an increasing level of both investor and tenant activity, as this area offers convenient freeway access as well as accessibility to San Diego and Orange Counties and other parts of the Inland Empire,” said Stan Nowak, a principal with Avison Young, in the statement.
Nowak and Vice President Cody Lerner negotiated the transaction.
