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John Carrafiell And Sonny Kalsi Of BGO Acquire Industrial Property In Corona For $44.3M

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SOLD
$44,300,000
Sonny Kalsi
John Carrafiell

California

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Industrial164,888 SF
Sold 01/23/2026
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SOLD

John Carrafiell And Sonny Kalsi Of BGO Acquire Industrial Property In Corona For $44.3M

15 Longitude Way

See Similar Deals
Industrial164,888 SF
Sold 01/23/2026
Sonny Kalsi
John Carrafiell
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$268
Total Square Footage:164,888 SF
Transaction Type:Sale

A 164,888-square-foot cold storage facility located at 15 Longitude Way in Corona’s Latitude Business Park was acquired for $44.3 million. The price translates to approximately $268.55 per square foot. This sale price was 28.7% above the Inland Empire East Q4 average, indicating strong value in the market.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $44,300,000
  • Buyer: John Carrafiell & Sonny Kalsi - BGO
  • Seller: Clay Knapp - Condor Cold Storage
  • Sales Volume Increase: 21.3% year over year
  • Market Vacancy Rate: 8.1% direct vacancy and 13.6% availability in Q4

John Carrafiell and Sonny Kalsi of BGO represented the buyers in this transaction, while Clay Knapp represented the seller, Condor Cold Storage. The deal signifies continued investor interest in specialized industrial assets despite cooling market conditions.

Players

Sonny Kalsi
Sonny Kalsi
19 deals$1.5B volume
BUYER
John Carrafiell
BentallGreenOak
John Carrafiell
7 deals$524.7M volume
BUYER

Details

SOLD
IMAGE: John Carrafiell, Sonny Kalsi & Clay Knapp DATE: 01/23/2026 ADDRESS: 15 Longitude Way MARKET: Corona ASSET TYPE: Industrial BUYER: John Carrafiell & Sonny Kalsi - BGO (@LifeatBGO) SELLER: Clay Knapp - Condor Cold Storage SALE PRICE: $44,300,000 SF: 164,888 ~ PPSF: $269 NOTE: BGO acquired a 164,888-square-foot cold storage facility at 15 Longitude Way in Corona’s Latitude Business Park for $44.3M ($268.55 per SF) from Condor Cold Storage, pricing 28.7% above the Inland Empire East Q4 average. The Inland Empire East posted 8.1% direct vacancy and 13.6% availability in Q4 as sales volume rose 21.3% year over year, signaling cooling conditions despite continued investor demand for specialized industrial assets.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,362,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$157,388.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$210,004.60
Annual Debt Service$2,520,055.21