Inland Empire Manufacturing Facility Changes Hands
- Jul 01, 2019
America YouCare Pharma has sold a Class A, 245,000-square-foot industrial property in Corona, Calif., to Precision Screen & Security. The steel fencing and gates manufacturer acquired the former Watson Laboratories facility for $26.5 million, in a transaction brokered by CBRE. The new owner intends to combine several operations and retrofit the facility for the manufacturing of windows and doors.
Located at 2455 Wardlow Road on almost 10 acres, the 2002-built warehouse is right off Riverside Freeway and roughly 6 miles from Interstate 15. Watson Laboratories occupied the two-story property until 2015, when America YouCare Pharma purchased it for $17.1 million as part of a portfolio transaction. According to Yardi Matrix data, the deal totaled $24.7 million and included another 108,179-square-foot industrial space at 132 Business Center Drive.
According to recent CBRE research, the Inland Empire industrial market shows no signs of deceleration due to high demand levels driving solid rental growth. The local economy was positively impacted by steady construction activity over the past five years.
CBRE’s Jeff Carr and Chip Wright represented the seller, with Sonya Schmidt working on behalf of the buyer and Erik Wanland providing local market assistance.