Lee & Associates Negotiates $4.9 Million Sale of Murrieta, CA Multi-Tenant Industrial Buildings

Two multi-tenant industrial buildings, totaling 39,976 SF  at 29980 Sky Canyon Drive and 29990 Technology Drive in Murrieta, CA. 

Matt Shaw

MURRIETA, CA –  Lee & Associates, a leader throughout North America in commercial real estate services, has closed a $4.9 Million sale transaction on two multi-tenant industrial buildings, totaling 39,976 SF, located at 29980 Sky Canyon Drive and 29990 Technology Drive in Murrieta, CA. 

Matt Shaw and Blake Valdez of the Lee & Associates Temecula Valley office represented the seller, Magnolia Industrial Park, LLC. 

The buyer, Dunbar Investments, LLC, was represented by Charley Black and Gordon Mize also of the Lee & Associates Temecula Valley office. 

 Blake Valdez

“This transaction represented a rare opportunity for Dunbar to acquire a quality, well-located industrial park in a desirable market”, said Black.

The Lee & Associates team of Shaw, Valdez, and Sam Robles were awarded the leasing assignment on this property in June 2020 when the property was at a 23% vacancy.

During escrow, the Leasing Team was able to stabilize the asset and bring the vacancy rate down to almost 6% by the close of escrow. 

Charley Black

ABOUT LEE & ASSOCIATES

Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services.

Established in 1979, Lee & Associates is now an international firm with offices throughout North America.

Our professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information.

Gordon Mize

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CONTACT:

Caroline Payan
Lee & Associates
(951) 276-3617
cpayan@lee-associates.com