Avison Young completes $10.9 million sale of an 86,882-sf multi-tenant business park in Temecula

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Avison Young completes the $10.9 million sale of Temecula Corporate Park, an 86,882-square-foot, multi-tenant office and industrial park located at 43379, 43385,43391 and 43397 Business Park Drive in Temecula. Valley News/Courtesy photo
IRVINE – Avison Young announced that it has completed the $10.9 million sale of Temecula Corporate Park, an 86,882-square-foot, multi-tenant office and industrial park located at 43379, 43385,43391 and 43397 Business Park Drive in Temecula. Avison Young Principal Alan Pekarcik and Senior Associate Chris Smith who are based out of the firm’s Orange County office represented the seller, an Orange County-based private investor, as well as the buyer, a Los Angeles-based private investor. The property closed at a cap rate of 6.45% and a price per square foot of $125.46. Situated on 6.09 acres and built in 2002, Temecula Corporate Park is approximately 97% occupied and consists of one two-story office building and three single-story industrial buildings. The property is near the 15
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