115,000 ± SF Manufacturing/Distribution Industrial Building situated on a 5.91 acre parcel in Southwest Riverside County
Acquisition Date:
Wednesday June 8, 2005
Building Acquisition Cost:
$7,168,814.90
Project Lender:
Bank of America, N.A.
Mr. Harvey Cohen
5 Park Plaza, Suite 500
Irvine, CA 92612
Estimated Project Value:
$9,750,000.00 (Currently in Escrow – to Close June 15, 2006)
Project Team:
Property Owner: Sky Canyon Partners, LLC Project Development Manager: Pacific Pointe Partners, Inc. Project Contractor: Fullmer Construction
Project Strategy/Business Plan:
The business plan for Sky Canyon Partners, LLC was to acquire the subject property at a cost below market value and then to perform a complete interior and exterior rehabilitation of the building and surrounding property. Simultaneous with the building renovation, the marketing strategy was to take advantage of the lack of similar sized and competing product in the Southwest Riverside County industrial market and to solicit both users and investors for sale or lease.
Copyright 2004, Pacific Pointe Partners, Inc., All Rights Reserved.
