A building offering more than 450,500 square feet of lab and manufacturing space is on the market in Temecula. According to a listing by Binswanger Gateway Partnership, the office space, which is listed as unpriced, enables uses for a variety of sectors, including data, life science and technology.
Located at 41915 Business Park Drive, the building is situated on nearly 29 acres of land and also contains an additional 8.5 undeveloped acres. The building was built in 1985 and has received numerous upgrades throughout the years by its current owner, Infineon Technologies. According to public records, the technology manufacturing company purchased the building in 1989 at an undisclosed rate and also occupies the building. The offering memorandum also states the company plans to operate out of the building until the summer of 2022.
While currently housing the technology manufacturing company, the property offers a variety of uses throughout its many spaces. In total, the facility houses a 61,000 square foot class 100 cleanroom space, 8,000 square feet of class 1000 cleanroom space, 14,450 square feet of lab space, 88,517 square feet of office space and 277,951 square feet of support space. In addition, the property contains 344 parking spaces.
The facility is located near a number of commercial office and retail assets at the corner of Business Park Drive and Rancho California Road. Situated in Southwestern Riverside County, the property also benefits from its close access to Interstate 15, which provides direct access to the major life science market in San Diego.
Across the United States, life science properties have been in high demand by tenants and investors alike. According to a recent report from CBRE, which analyzed life science markets across the nation, vacancy rates for current lab and research and development space have reached an all-time low of 4.9 percent. At the same time, companies across the country have sought out approximately 23.8 million square feet of new lab space during the third quarter of 2021.
Binswanger Gateway Partners did not respond to requests for comment.