The Inland Empire continues to see no shortage of industrial sales, with another sale recently recorded in Temecula. According to Vizzda records, Brennan Investment Group acquired a 162,520 square foot industrial building in Temecula for $26.85 million, or about $165 per square foot. The property was sold by an entity linked to Furniture City.
The property is located at 43195 Business Park Drive and consists of a single building constructed in 1991. The warehouse building is situated on approximately 11.5 acres, and is located just off Interstate 15. Nearby are a number of commercial office and industrial building, with occupants including Riverside County Department of Public Social Services, Lincare, The Envases Group and more.
Brennan Investment Group was founded in 2010 and is a privately held industrial owner with a presence in more than 60 cities throughout North America. As of March 2023, the firm’s portfolio includes 553 properties, totaling 52 million square feet, in 27 states, according to the firm’s website.
Temecula has seen a number of industrial deals over the course of the last few months.
In one recent deal, a three-building industrial property traded for $13.55 million, or about $199 per square foot. Known as the Highland Business Center, the buildings are located at 40880, 40935 and 40945 Country Center Drive in north Temecula across 6.3 acres. The 68,000 square foot property was sold by Providence Real Estate Group.