The latest sale follows an earlier deal in which Krausz sold an 89,079-sf portion of Winchester Springs for $16 million after buying the entire 110,000 sf for just over $16.25 million before the completion of construction in 2004. In the other recently closed Faris Lee deal, Los Angeles-based Rexford Industrial bought the 63,000-sf Archicenter Business Park office and industrial center from an Orange County-based seller for $7.3 million.

MacLellan tells GlobeSt.com that Krausz still owns a portion of Winchester Springs, which is situated on 10 acres in Murrieta at the intersection of Winchester Road/Route 79 and Murrieta Hot Springs Road. MacLellan and Richard Walter, president of Faris Lee, represented Krausz in the latest sale, with Shaun Riley of Faris Lee representing the buyer.

According to Walter, the "parcelization strategy" in selling parts of Winchester Springs enabled Krausz to realize a substantial profit on the property in less than three years while retaining a portion of the center. The 13,600-sf portion that was sold recently is fully occupied and includes a ground lease pad occupied by McDonald's, as well as Starbucks, Tarbell Realty and Curves for Women.

In the Rancho Cucamonga transaction, buyer Rexford and seller 9375 Associates LP were represented by Dennis Vaccaro and Nicholas Coo of Faris Lee. The property, at 9375 Archibald Ave. in Rancho Cucamonga, sold in an all-cash deal at a cap rate of 6.1%.

Built in 1980 and 97% occupied, the Archibald Avenue property includes three office buildings totaling 30,000 sf and four industrial buildings totaling 33,000 sf. According to Vaccaro, the office portion and the industrial portion are on separate parcels and offered the buyer an opportunity to create upside potential in the future by selling off each piece individually.

The office building portion of the property is antiquated and needs to be modernized, adding to the property's value-added potential, Vaccaro says. He says that selling points for the investment also included its pricing below replacement cost, low commercial vacancy rates in the area, upside opportunity of lease-up and below market rents.