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Avison Young Brokers $5.8M Office Sale in Temecula
Temecula Oaks, a 33,306-square-foot office building in Temecula, CA, has traded hands for $5.8 million. The property was purchased by Spruce Grove, Inc. from KPN Industrial, LLC, and traded at a cap rate of 7.5%.
Built in 1985 and renovated in 2015, Temecula Oaks is situated on 2.58 acres at 28765 Single Oak Dr., within Rancho California Business Park. The multi-tenant asset is 93% occupied and features newly- renovated common areas, extensive window lines, and mature landscaping.
Avison Young’s Corey Martin and Matt Shaw represented both parties in the deal.
“Temecula Oaks represents a great value-add success story,” says Martin. “We originally represented the seller when it acquired the property in December 2014. During that escrow, we implemented an extensive capital improvement program, increasing the occupancy level to 60% from 20%. Shortly after close of escrow, occupancy rose to 93%.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


