DAUM Commercial Real Estate Services recently completed the sale of a 49,561-square-foot industrial building in Corona for $15.99 million. The successful transaction was the result of a yearlong project to renovate and reposition the property by DAUM’s EVP and principal, Charles Johnson.
The Inland Empire’s Riverside County property was originally built in 1988 but underwent renovations by PPVS Properties LLC in 2023 to make it more attractive for potential industrial lease or sale opportunities. This strategic move paid off as evidenced by the recent purchase.
Johnson, along with Joseph Harmon and Noah Samarin from DAUM represented the seller while Clyde Stauff, Jace Gan and Jackson Marlow from Colliers represented the buyer who plans on using this prime location to expand their flooring business.
This noteworthy deal serves as an example that even during challenging market conditions, properties with desirable features such as efficient loading capabilities, minimal office space and excellent location will continue to attract buyers and lenders willing to finance purchases.
