Westcore, a leading West Coast industrial real estate acquisition, development and asset management firm, recently acquired a 108,927-square-foot warehouse in Temecula, CA. Located at 28381 Vincent Moraga Drive, Westcore purchased the 6.65-acre property from a private party for $16 million.
The property features include 40- to 42-foot clear heights, a sprinklered racking system, ample dock-high loading, and a fully fenced and secured truck yard. Westcore will make several improvements including new paint, drought tolerant landscaping, a new roof, new skylights, and interior enhancements to the office space.
“This building has very good bones and sits in an extremely tight sub-market with vacancy that hovers around 1% and very limited new construction,” said Hack Adams, Managing Director at Westcore. “Along with the planned cosmetic and deferred maintenance items we are planning to handle immediately, the building’s impressive 40-foot clear height, ample loading and ability to offer a secured truck yard and/or lay-down yard, we are very optimistic this asset will attract strong interest from the immediate South Riverside sub-markets, or the nearby Northern San Diego markets.”
Randy Lockhart of Newmark represented Westcore, while the seller represented itself in the transaction.
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