San Diego-based Westcore Properties purchased a 130,599-square-foot warehouse/distribution facility in Rialto, CA from Legacy Ranch, Inc. for $11.425 million. The investor plans to reposition the nine-acre lot at 360 South Lilac Ave., encompassing a thorough interior and exterior cosmetic upgrade and paving roughly 1.7 acres of unimproved land for trailer parking and other uses.
The $1.5-million upgrade plan includes new paint, landscaping, warehouse lights, dock doors and office reconfigurations and upgrades, in addition to paving the unimproved dirt.
Voit Real Estate Services’ Chase MacLeod represented the seller in the transaction. Westcore was self-represented.
“Two of the scarcest types of industrial space in highest demand throughout the Inland Empire are mid-sized buildings for lease, and secured, paved yards for trailer storage” said MacLeod. “Westcore’s successful acquisition and reposition of this asset will create a rare opportunity for a company to occupy both on the same property.”
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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