Racers Head for Industrial Site

CORONA, CA-In one of the most unusual uses for an industrial building lately, Pole Position Raceway Inc. has signed an 84-month, $1.9 million lease for a 51,000-sf former manufacturing building at 1594 Bentley Drive that will house an indoor kart racing facility. Chris Migliori of GVA Daum, who represented Pole Position, reports that the tenant obtained a non-conforming use permit from the city of Corona and has renovated the building to accommodate the racing.

The industrial building now features a European-style quarter-mile race track, game room, arcade, pro shop, concession stands and a 700-sf VIP room for private parties. Migliori says that Pole Position plans to remain open 365 days a year, offering Italian-made electric Pro-Karts that reach speeds of 45 mph. Rick John and Ken Anderson of Collins Commercial represented the landlord, Three J's LP.

The Pole Position deal was one of three industrial transactions to close recently in Corona. In the larger of the other two, pipe fittings maker Star Pipe Products Inc. bought a 110,752-sf industrial building at 1223 Sherborn St. in the Corona Crossroads Business Park from Birtcher Anderson Properties of Laguna Niguel for $8.5 million to serve as its regional distribution facility. Star Pipe is relocating to the Corona building from leased facilities in Riverside.

Star Pipe plans to occupy approximately 60% of its new property and offer the balance of 50,708 sf for lease, with Grubb & Ellis Co. as its leasing agent. The company was represented by Shawn Kelter of Grubb & Ellis' Anaheim office and Karl Heim of Commercial Realty Advisors. Jim Koenig and Dave Consani of CB Richard Ellis represented the seller.

In the third Corona transaction, paper packaging maker Advanced Paper Forming acquired a 15,360-sf industrial building at 541 Rincon St. from an individual investor for $1.9 million. The buyer was represented by Paul Gingrich and Chris Migliori of GVA Daum, with the seller represented by Chuck Hardy of Lee & Associates.