CBRE announced real estate expense and management agency Stos Partners has purchased an industrial property in Temecula, for $7.1 million owned by Calavo Growers.
CBRE’s Rob Gunness and Kevin Kelly represented the vendor, Calavo Growers, an worldwide farm merchandise business acknowledged for its distribution of avocados.
Found at 28410 Vincent Moraga Push, the 64,678 sq.-foot industrial house has been occupied by Calavo Growers given that 1985. The constructing features an open warehouse, refrigerated cooler space, big garden house, excess land, dock loading, large energy and 125 parking areas. Calavo has primarily utilised the developing as an avocado packing plant and will go on its operations beneath a new lengthy-phrase, 30,000 sq.-foot lease in Suite B of the setting up.
The residence is located within a person mile of the I-15 freeway that connects Temecula to both equally Riverside and San Diego counties. The surrounding space is house to many other businesses including Abbott Labs, Medline, FF Enterprises and Motorola Solutions. Numerous of Temecula’s most well-liked dining and entertainment venues are also in proximity to the web page.
“Calavo Growers has appreciated a extended history as a staple of the agriculture business in California, and we are pretty pleased that this record will go on,” Kelly explained in a CBRE push release. “This offer makes a ‘best of both worlds’ situation, as the consumer will be completing a renovation that will generate an even much better surroundings for Calavo to work in, whilst also improving upon the value of the asset.”
Gunness included, “The Southwest industrial submarket remains incredibly robust. Because of to the extremely constrained speculative merchandise to nutritional supplement the demand and low emptiness, rents will continue to rise for superior industrial product in 2019.”
Calavo Growers Sells Industrial Assets in Temecula for $7.1 Million was previous modified: Could 21st, 2019 by
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