After several months on the market, a 61,878 square foot office building in Corona is trading hands. According to public records, an entity affiliated with The Koll Company sold the Westgate Center building to an entity associated with Topline Trade Union, a manufacturer of wheel accessories. The property sold for $15.2 million, or about $245 per square foot.
The building is located at 2280 Wardlow Circle and last traded in 2018, according to previous reporting from The Registry. At that time, The Koll Company acquired the property for $10.31 million, or approximately $165 per square foot. The property was initially placed on the market earlier this spring with an asking price of $15.17 million.
Westgate Center was built in 1990 and stands two stories tall. Situated in 3.05 acres, the property is home to several tenants. These include D.R. Horton – which has been at the property for 21 years – as well as Penske Logistics, Global CTI, Fantastic Sams and Mercury Insurance Services, among others.
The office building is located within close proximity to California State Route 91, which sees approximately 288,000 vehicles per day and provides easy access to the rest of Southern California. Westgate Center is also just two miles west of Interstate 15 and a short walk from the West Corona Metrolink rail station.
Based in Irvine, The Koll Company has been active throughout Southern California. Last year, the company also disposed of Skypark, an 81,551 squarefoot, three-building office campus also located in Irvine. In that transaction, the property sold for $24.1 million, or approximately $295 per square foot, according to The Registry’s previous reporting.
