Dalfen Industrial is growing its holdings in Southern California. In a recent deal that closed on Jan. 5, the company acquired a 95,922 square foot industrial building in Moreno Valley for $27.24 million, or approximately $284 per square foot. An entity linked to Molto Properties was the seller in the transaction, according to public records.
Colliers’ Western Region Industrial Capital Markets Group, comprised of Michael Kendall, Gian Bruno, and Kenny Patricia, partnered with fellow Colliers Industrial experts Scott Sanders, Steve Bellitti, Tom Taylor, and Joey Jones in providing market expertise and brokering the sale.
Built in 2021, the property is located at 24773 Nandina Ave. on 4.8 acres and was built in 2021. The property is currently occupied by REP Fitness.
Located in a primarily industrial area, the property sits among various warehouse and distribution buildings occupied by companies like Amazon, Lowe’s and Walgreens. The property is also closely located to the March Air Reserve Base and Interstate 215.
Dalfen Industrial is a Dallas-based real estate investment firm with a focus on value-add industrial assets in various markets across the United States.
The company owns numerous properties throughout the Southern California region. Earlier this year, the company also acquired a 86,680 square foot industrial building in San Diego’s Otay Mesa submarket, according to The Registry’s previous reporting. The building, located at 7615 Siempre Viva Road, was sold to the company by a partnership between Alcion Venture and Lincoln Property Company for $24.85 million, or about $286 per square foot.
