Buyer PG Acquisitions purchased the two buildings, which total 106,125 sf, from Hudson RCI of Temecula, according to Marty Smith of Coldwell Banker Commercial, who represented both the buyer and the seller along with Coldwell Banker's Allen Nunez.
Smith tells GlobeSt.com that the transaction closed in eight days because of the seller's requirement to close quickly. The buildings, at 27731 and 27635 Diaz Rd., are in an area that includes a variety of manufacturing and light industrial companies, distribution operations and other businesses. The area, which includes about 3.5 million sf of space and occupies about 200 acres, features access to the nearby I-15 Freeway.
The buyer acquired the Diaz Road properties as a leased investment from Hudson RCI, a 52-year old company that was founded in Los Angeles and later moved to Temecula. Both buildings are 100% occupied and had been owned by the seller since 1996. One of the buildings was constructed in 1975 and the other in 1996, both of single-story, concrete tilt-up construction.
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