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CBRE Orchestrates $13.55M Sale Of Three Fully Leased Buildings In Temecula's Highland Business Center

Property Image
SOLD
$13,550,000
Matt Harris
Matt Pourcho

California

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Industrial68,068 SF
Sold 08/09/2023
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Property Image
SOLD

CBRE Orchestrates $13.55M Sale Of Three Fully Leased Buildings In Temecula's Highland Business Center

40880, 40935 & 40945 Country Center Drive

See Similar Deals
Industrial68,068 SF
Sold 08/09/2023
Matt Harris
Matt Pourcho
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$199
Total Square Footage:68,068 SF
Transaction Type:Sale

A $13.55 million sale has been orchestrated by CBRE for three fully leased buildings in Temecula's Highland Business Center. The transaction involved a buyer from Beverly Hills engaged in a 1031 exchange. These buildings, totaling 68,068 sq. ft., offer amenities such as 14' clear heights, drive-in doors, and fiber-optic broadband access. They are strategically positioned for Southern California distribution routes.

Summary of Transaction Details

  • Property Type: Industrial
  • Sale Price: $13,550,000
  • Square Footage: 68,068 sq. ft.
  • Price Per Square Foot: $199
  • Address: 40880, 40935 & 40945 Country Center Drive, Temecula
  • Market: Temecula

Matt Pourcho and Matt Harris from CBRE were the brokers representing the seller, Providence Real Estate Group.

Players

Matt Pourcho
CBRE
Matt Pourcho
48 deals$650.7M volume
BROKER
Matt Harris
CBRE
Matt Harris
28 deals$349M volume
BROKER
PG
Providence Real Estate Group
SELLER

Details

SOLD
IMAGE: Matt Pourcho & Matt Harris DATE: 08/09/2023 ADDRESS: 40880, 40935 & 40945 Country Center Drive MARKET: Temecula ASSET TYPE: Industrial SELLER: Providence Real Estate Group BROKERS: Matt Pourcho & Matt Harris - CBRE SALE PRICE: $13,550,000 SF: 68,068 ~ PPSF: $199 NOTE: CBRE has orchestrated the $13.55 million sale of three fully leased buildings in Temecula's Highland Business Center to a Beverly Hills buyer engaged in a 1031 exchange. These buildings, totaling 68,068 sq. ft., offer amenities like 14' clear heights, drive-in doors, and fiber-optic broadband access, strategically positioned for Southern California distribution routes.

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

$722,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$48,140.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,233.91
Annual Debt Service$770,806.95