Description for 27368 Via Industria, Temecula, CA 92590
Please RSVP for one of the following tour dates:
- Thursday, February 15 from 10a – 12p
- Tuesday, February 20 from 10a – 12p
- Monday, March 5 from 10a – 12p
- Or by Appointment
Please contact Jeff Cole at 949-955-7652 or email@example.com or Ed Hernandez at 949-930-4380 or firstname.lastname@example.org to RSVP for a tour date.
Cushman & Wakefield of California, Inc., as exclusive advisor, is pleased to offer the exceptional opportunity to acquire INLAND TERRACE CORPORATE CENTER (the “Property”), a Class-A office project located in Temecula, Riverside County, California. Built in 2002, the Property is 96% leased to a diversified rent roll in the rapidly improving Inland Empire market. Totaling 55,695 square feet, the project is strategically located near the intersection of Interstates 15 and 215 and offers stable cash flow as well as tremendous upside potential.
• 96% leased office project in an attractive foothills location with dramatic valley and mountain views.
• Institutional-quality, steel-frame improvements built in 2002 with vaulted lobby entrance, convenient surface parking, high-end corporate finishes, rare floor-to-ceiling glass, wide corridors, and 9-foot ceilings.
• Core office asset with stable in-place cash flow as well as immediate value-add upside with 20% below market rents in-place.
• Situated in close proximity to Interstates 15 and 215 at Winchester Road near an abundance of retail and restaurant amenities.
• The rent roll is comprised of nine tenants from diversified industries including insurance, energy, education, finance, technology, and agriculture.
• Suites range in size averaging 5,000 square feet allowing for minimum reconfiguration and low retenanting costs in a ‘plug-and-play’ environment with the ability to grow tenants in the project.
• A balanced rollover schedule features lease expirations ranging from 2018 through 2021 with 44% of the rent roll leased through mid-2021.
• Rapidly tightening office market conditions in the Inland Empire have seen a tremendous drop in vacancy down to 8.6% as of 4Q17. The Temecula office market has a mere 2.5% vacancy rate which will continue to put upward pressure on rental rates.
• Positive demographic trends benefit the Property and tenant base with an average household income of $141,000 in a one-mile radius and $95,000 in the city of Temecula. The Inland Empire has an unemployment rate of only 4.5% as of year-end 2017.
• The asset is likely to sell at a significant discount to its estimated replacement cost of $260 per square foot assuming land value of $15 per land square foot.
Auctioneer Licensing Information
Ten-X Scott Reid RE Brkr 01994943
Ten-X Auction Surety Bond 106465786