MCA Realty Sells 132 KSF Inland Empire Industrial Property
- Nov 23, 2020
MCA Realty has sold Diaz Commerce Center, a 131,577-square-foot, multi-tenant industrial asset in Temecula, Calif., to a local investor for $14 million. Lee & Associates brokered the transaction.
The former owner had acquired the two-building property for $10 million in 2018, leasing the remaining space shortly after the deal. Following the purchase, MCA had upgraded the asset by adding LED lighting, expanding parking and securing the truck court with fencing.
Built in 1975, the asset is located on 10 acres at 27711 Diaz Road, near Interstate 15 in a dense industrial/flex corridor. The structures have 20-foot clear heights, 90-foot truck courts and parking at a ratio of 2.3 spaces per 1,000 square feet, according to CommercialEdge.
Barret Woods and Scott Stewart of Lee & Associates arranged the deal, with Stewart acting on behalf of the seller and Woods representing the buyer. This past summer, MCA Realty sold another of its Southern California industrial assets. Pinnacle Business Park in Escondido, Calif., changed hands for $8.3 million.