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Newcastle Sells Perris Industrial Facility
San Francisco-based Newcastle Partners, Inc. divested Harley Knox Logistics Center for $16.35 million. The 147,000-square-foot Class A industrial facility is located at 17610 Harvill Ave. in Perris, CA, and is fully occupied by Hardwoods Specialty Products on a long-term lease.
The buyer, TA Realty, LLC, represented itself in the transaction and Cushman & Wakefield, led by Jeff Chiate and Mike Adey, represented Newcastle Partners.
With construction completed in September 2017, the property is situated on 8.21 acres and features 104 parking stalls, 26 loading docks, 32-foot clear height, and a 160-foot truck court.
Newcastle’s Jackson Smith says, “With an irreplaceable freeway-visible location and a high-quality long term tenant in place, we received over a dozen offers to purchase the project. We set a new high-water mark in terms of price per square foot in this size category in the Inland Empire.”
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