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

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.