Cushman & Wakefield, a leading commercial real estate firm, facilitated the sale of two industrial projects in San Diego and Riverside counties. The properties span six buildings and total 387,454 square feet. They were sold separately to two different buyers for a combined price of $74.04 million between January and May.
One project was located in San Marcos and consisted of four Class A industrial buildings totaling 221,294 square feet that were fully leased. Known as Pro•duc•tion, the project was built in 2018 and sold for $50 million to Investcorp in January.
The second project included two industrial buildings located at 26201 Ynez Rd. and 42259 Rio Nedo Rd. in Temecula which sold to Cire Equity for $24.04 million in May.
Aric Starck, Jeffrey Cole, and Drew Dodds from Cushman & Wakefield’s Capital Markets team represented the seller – an entity affiliated with Blackstone -in both transactions.
This recent sale highlights strong demand for quality industrial assets within Southern California’s market.
