Voit Real Estate Services Directs Sale of 82,000-SF Multi-Tenant Industrial Park in Murrieta, CA

 

Murrieta Industrial Park

 Murrieta, CA – Rob Socci and Jack Faris of Voit Real Estate Services’ Anaheim office have successfully completed the sale of an 82,000 square-foot multi-tenant industrial park on behalf of the buyer and seller.

The property, which was built in 2006, is a five building complex and is centrally located just east of the 15 and 215 freeways.  Built with recent institutional quality improvements, the industrial park, made up of 44 units ranging from 1,000 to 3,500 square feet, is in excellent condition and was over 85% occupied at the time of purchase.

Jack Faris

Voit represented the Costa Mesa based buyer, Frome Developments Omega, who purchased the property in cash for $5.5 million from a lender, also represented by Voit, who had taken ownership of the property after a loan default. Escrow closed within 45 days. The property is located at 38340 Innovation Court in Murrieta, Calif.

          Frome Developments Omega owns and manages approximately two million square feet of multi-tenant business parks throughout Orange, Riverside, San Bernardino, and Los Angeles Counties. With this latest acquisition, Frome Developments Omega has acquired close to 300,000 square feet of multi-tenant industrial parks within the last 15 months.  

  Contact:

Jenn Quader/ Judith Brower

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com