Three-Property Business Park Hits Market in Norco, Calif. With $11.37MM Asking Price

Town & Country Business Center, Norco, Lee & Associates, Bryan Industrial Properties, Inc., GreyWolf Brewing Co., Nomar Inc., Arbor Vitae Hospice Care Inc. and RESS Financial Corp

By Catherine Sweeney

Town & Country Business Center, a multi-tenant asset in Norco, Calif. has recently been placed on the market, offering a mix of industrial and office space. According to the listing by Lee & Associates, the property is on the market with an asking price of $11.37 million, or about $319 per square foot. 

“Town & Country Business Center is a 100 percent occupied, three building, multi-tenant, Class A business park situated on approximately 2.58 acres.​ T&C enjoys immediate freeway access, visibility, signage and frontage along Town & Country Drive.​ With a diverse mix of tenants and historically strong occupancy, T&C provides an opportunity for an investor to acquire a steady income producing property below replacement costs,” the listing states. 

Totaling 35,679 square feet, the three-building business park is located at 1780, 1790 and 1880 Town & Country Drive on just over two and a half acres. The property was built in 2004 and was last acquired by an entity associated with Newport Beach-based Cable Investments-Norco for an undisclosed amount in 2006. 

Currently, the property is occupied by a mix of tenants, including GreyWolf Brewing Co., Nomar Inc., Arbor Vitae Hospice Care Inc. and RESS Financial Corp, among others. At 100 percent occupancy, the property offers a net operating income of $406,087.

The property is located  in the heart of Norco, near Hamner Avenue and the 15 Freeway. Nearby are a number of amenities, such as the U.S. Post Office and the Norco DMV. The area is also home to a large population, with 99,184 people living within a three-mile radius of the property. 

The larger Riverside County is home to more than 750,000 households, with an average income of $89,082 per year. Additionally, Riverside County is home to a labor force of more than 1.1 million employees and 67,683 employers.