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5-Building Inland Empire Industrial Business Park Trades Hands
Moreno Corporate Center, a five-building, 139,015-square-foot industrial park located in Moreno Valley, traded hands. The property was roughly 95% occupied by more than 45 tenants at the close of escrow.
Avison Young represented the buyer, an unnamed SoCal-based private investor who was completing the upleg of a 1031 exchange. The seller, an undisclosed Bay Area-based investment company, was represented by CBRE.
Built in 1989, the property is situated on 9.05 acres at 14300, 14320 and 14340 Elsworth St. and 22620 and 22640 Goldencrest Dr. It features 17-foot clear heights and a 2.85 parking ratio. Moreno Corporate Center is less than one-mile from the 215 freeway and is across from the main entrance of March Reserve Air Force Base. Additionally, it is near a number of recently built big-box distribution centers and retail amenities.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

