COLDWELL BANKER COMMERCIAL FACILITATES $6.8M INDUSTRIAL WAREHOUSE DEAL IN MURRIETA

MURRIETA, CALIF. (Sept. 29, 2022) – Coldwell Banker Commercial SC is pleased to announce that it facilitated the sale of 38415 Innovation Court, a 36,120 square-foot multi-tenant industrial building in Murrieta, California. The sales price was $6.8 million.

“This property was fully leased to KTM North America at the time of sale. The buyer acquired the property as the part of a 1031 exchange in an off-market transaction,” said broker Carey Pastor of Coldwell Banker Commercial SC. “Industrial vacancy in this market is at an all-time low and fully-leased multi-tenant industrial assets such as this remain in high demand.”

The industrial building, located in Silverhawk Business Park on a 2.24-acre parcel, is sprinklered, has 18-foot clearance and 14 drive-in-doors. It was constructed in 2004.

Pastor represented both the buyer, Cobblestone Properties, LLC, and the seller, Flying Elk Enterprises, LLC, in the transaction.

About Coldwell Banker Commercial Affiliates

Coldwell Banker Commercial SC, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types.  With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.  

Media Contact:
Kevin Guhl, kevin.guhl@cbhomeoffice.com
973-407-5916