Joint Venture Pays $20M for Jurupa Valley Business Park
A new joint venture between Intersection Equities, LLC and Blue Vista Capital Management, LLC acquired Riverside Business Park, a 122,000-square-foot industrial park in Jurupa Valley. The asset was purchased for $19.5 million.
The purchase of Riverside Business Park aligns with Intersection’s strategy of acquiring well-located industrial assets that offer significant value-add potential in core markets west of Denver. “We acquired the property at a substantial discount to replacement cost and will make strategic capital improvements focused upon enhancing the appeal of the project to current and prospective tenants,” said Eric DeWees, senior director of acquisitions.
Barret Woods of Lee & Associates represented the seller, Transition Properties, L.P. Stefan Pastor of Stream Realty represented Intersection and Blue Vista.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).