CIRE Equity Acquires Goodyear Tire Distribution Facility In Victorville For $67.5M

Goodyear Tire has completed a sale-leaseback of an 829,000-square-foot distribution facility in the Inland Empire, Southern California. CIRE Equity acquired the property for $67.5 million. The facility is located at 17477 Nisqualli Road in Victorville and sits on 40 acres of land. The transaction took place on July 5, 2023, in the Victorville market.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $67,500,000
• Address: 17477 Nisqualli Road
• Market: Victorville
• Asset Size: 829,000 square feet
• Acres: 40

In this deal, CIRE Equity represented the buyer, while Goodyear Tire was the seller. Umpqua Bank served as the lender for the transaction. The price per square foot for the property was $81. The region of Inland Empire in Southern California has a highly active industrial real estate market, with high transaction volumes and significant rent gains.