
MCA Realty Divests Temecula Asset
Santa Ana-based MCA Realty sold Diaz Commerce Center, a 131,577 square-foot industrial asset in Temecula. The property at 27711 Diaz Rd. was sold to an unnamed local investor for $14 million.
MCA Realty’s Tyler Mattox says, “There continues to be strong demand for well located, quality industrial assets across the Inland Empire.”
MCA Realty initially acquired the property in September 2018 for $10 million. MCA subsequently implemented a series of improvements including the addition of LED lighting, updated asphalt, and increased the parking. The firm also added additional fenced yard space, which improved functionality.
Mattox adds, “We were able to lease the remaining vacancy in the property during escrow when we first acquired it, and significantly shorten our expected hold period. This increased the value of the asset more rapidly which allowed us to sell it for a reasonable profit two years later.”
Lee & Associates’ Barret Woods represented the buyer. Lee & Associates’ Scott Stewart represented the seller.
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- ◦Sale/Acquisition