Temescal Valley Commerce
21937 Knabe Road, Corona, CA
Property Highlights
- Project located close to the intersection of 91 Freeway and I-15 Freeway in Corona
- The property has extensive direct I-15 Freeway Frontage
- Neighboring Institutional Owners: Rockefeller Group, KKR Real Estate (NYSE:KREF), LBA Realty, Bixby Land Company, Black Creek, Kensington Realty, Liberty Property Trust (NYSE:LPT)
- Neighboring High-Quality Tenants: Burlington Coat Factory (NYSE:BURL), Williams Sonoma (NYSE:WSM), Komar Logistics, Steelcase (NYSE:SCS), Lowe’s (NYSE:LOW), Keeco, Nordstrom (NYSE:JWN), Johnson & Johnson (NYSE:JNJ), Georgia Pacific
Property Information
- 139,800 SF brand new, Class A industrial building located on 8.74 acres. Building features ±2,318 SF of office, 32’ clear height, eleven (11) dock-high, two (2) ground-level loading, ESFR sprinkler
- State-of-the-art Inland Empire industrial facility
- High visibility from the I-15 Freeway (160,000 cars per day)
- Located in the 2.1% vacant Inland Empire–West submarket
- The property is located approximately five minutes south of the intersection of the I-15 and the 91 freeway and has immediate I-15 access
Business Plan
- CapRock used its development expertise to structure escrow in order to complete the majority of required entitlements before closing on the site
- CapRock successfully entitled the site through Riverside County and immediately commenced construction
- During construction CapRock marketed the building as both for sale and for lease
The Results
- CapRock successfully completed the project in 2019
- CapRock sold the building to a user expanding from Orange County, which was CapRock’s original investment thesis
