CapRock Picks Up Two-Building Industrial

RIVERSIDE, CA—Irvine, CA-based CapRock Partners LLC has purchased an industrialproject at the intersection of Iowa and Palmyrita aves. here for 407,455 square feet here from a seller identified to GlobeSt.com as PSIP Magellan Riverside I LLC, a Delaware Corp., for a price undisclosed to us. The project contains two 100%-leased industrial buildings and 1.49 acres of unimproved land that CapRock plans to entitle for the development of a future industrial building.

The facility at 800 Iowa Ave. is a 309,525-square-foot industrial building leased to Rust-Oleum, while 1151 Palmyrita is a 97,920-square-foot building leased to Ancon Marine. The latter tenant, headquartered in Carson, CA, has occupied the building for 15 years. The unimproved land is located at 900 Iowa Ave. Both buildings are within the master-planned Hunter Park submarket here, are situated on their own parcels and enjoy the benefit of two active rail spurs.