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$35M Industrial Site Sells in Corona
The high demand for industrial property in Southern California (looking your way, Inland Empire) continues to prove itself with a recent, off-market sale in Orange County: Newport Beach-based North Palisade Partners has acquired a 13-acre property in Corona, Calif., for $35 million, according to a news release.
The 13-acres includes one existing structure, and one to-be-constructed structure. In existence is an industrial building at 22740 Temescal Canyon Rd., which is presently occupied by Laticrete International – along with nine acres of land that are planned to support a 205,000-square-foot Class A industrial facility.
The development will target companies seeking distribution facilities in the Inland Empire.
NAI Capital Commercial’s Eddie Michino, Nicholas Chang, Richard Lee, Justin Kuehn and Sione Fua represented North Palisade Partners.
According to the release, North Palisade Partners said it is working to secure entitlements and finalize plans for the industrial building, which should start construction in early 2023.
- ◦Sale/Acquisition
