Vertical Ventures Purchases Property From Positive Investments Inc For $20.3M With Broker Chris Rhinesmith

The Moreno Corporate Center, located at 14300-14340 Elsworth Street and 22620-22640 Goldencrest Drive in Moreno Valley, California, has been sold for $20,300,000. This 139,015-square-foot flex/industrial park features five single-story buildings and is situated on a 9-acre lot. The property has a current vacancy rate of 4% and is occupied by 46 tenants from various sectors including automotive, education, and religious organizations.

Summary of transaction details:

• Property Type: Flex/Industrial Park
• Transaction Amount: $20,300,000.00
• Seller: Positive Investments Inc
• Buyer: Vertical Ventures
• Seller's Representative: Chris Rhinesmith - Compass
• Broker representing the buyer: CBRE
• Broker representing the seller: Avison Young
• Size: 139,015 square feet
• Location: 14300-14340 Elsworth Street & 22620-22640 Goldencrest Drive, Moreno Valley, CA
• Occupancy: 4% vacancy rate with 46 tenants

The transaction was facilitated by Chris Rhinesmith of Compass representing the seller, Positive Investments Inc, while CBRE brokered the deal on behalf of the buyer, Vertical Ventures. The Avison Young team, including Principal Alan Pekarcik and Senior Associate Chris Smith, represented the seller in this transaction.