Alan Pekarcik of the Irvine office of Voit Commercial Brokerage says the sale of the four-building business park is a sign that Temecula has become "an emerging market with tremendous growth potential." Pekarcik and Dan Vittone of Voit's Irvine office represented the buyer, with Allen Nunez, Marty Smith and Jeff Givens of the Temecula office of Coldwell Banker Commercial representing the seller.
Temecula Corporate Centre is a mixed-use project with class-A office, multi-tenant flex and modern industrial buildings developed in 2002 by the seller. The park is 94% leased to local and national companies.
Pekarcik says the growth in the industrial market has followed expansion of the housing and commercial markets in Temecula, where the opening of the new Pechanga Resort & Casino and its 500-room hotel are among a number of factors driving the city's business growth. Among the leading companies that are located in Temecula are Guidant Corp., a leader in the design and development of cardiovascular medical products, and the Scotts Co., which specializes in lawn and garden consumer and professional products including Miracle-Gro, Ortho and Scotts.
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