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.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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