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Coldwell Banker Facilitates $7M Sale of Murrieta Warehouse
Cobblestone Properties, LLC has purchased 38415 Innovation Court, a 36,000-square-foot, multi-tenant industrial property in Murrieta, CA. Coldwell Banker Commercial SC facilitated the $6.8 million sale, representing both parties in the transaction. The seller was Flying Elk Enterprises, LLC.
“This property was fully leased to KTM North America at the time of sale. The buyer acquired the property as part of a 1031 exchange in an off-market transaction,” said Coldwell Banker’s Carey Pastor. “Industrial vacancy in the Inland Empire market is at an all-time low, and fully-leased multi-tenant industrial assets such as this remain in high demand.”
The industrial building is located on a 2.24-acre parcel in Silverhawk Business Park. The facility was constructed in 2004 and features 18’ clear heights, 14 drive-in doors and sprinklers.
- ◦Sale/Acquisition
