Institutional-quality distribution building located in the Temecula submarket of Inland Empire (Southern California) within a short drive of Los Angeles, Orange County, and San Diego.  Temecula represents a strategic logistics hub with direct access to a large labor pool and features a nominal 2% market vacancy rate.  The property is 100% leased anchored by a leading multinational medical devices and health care company.

• Purchased a 229,000 SF high-quality, industrial building in the Temecula submarket of Inland Empire, California, for $40.75M ($178/SF) and 4.9% cap rate in July 2021
• At the time of acquisition, the building was 100% leased including 192,000 SF (84% of rentable square feet) through June 2026 to investment grade credit tenant Abbott Laboratories (NYSE: ABT | S&P Credit Rating A), a Fortune 100 multinational corporation with a market cap of $197B as of Q1 2024
• Abbott Laboratories has been the anchor tenant at the property since 2002 with this location serving as the company’s distribution hub for critical product, highly focused on cardiovascular equipment, shipped throughout the country and overseas and plays a pivotal role in their operations
• Temecula, California is located within a short drive of Los Angeles, Orange County, and San Diego representing a strategic logistics hub with direct access to a large labor pool and featured a nominal 2.07% market vacancy rate upon closing
• Attractively designed institutional quality distribution building constructed in 1998 with 26’ clear heights, ESFR sprinklers, 27 dock doors, and HVAC in 84% of the building
• Recently invested an additional $1.4M ($6.11/SF) in building improvements in 2022 – 2023 to upgrade the Class A industrial building