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RIVERSIDE, CALIF. — Scuderia Development has acquired a 600,000-square-foot industrial property in Riverside for $43.5 million. The Class A property is located at 14600 Innovation Drive, within the Meridian Business Park.
Scuderia plans to utilize the space as a warehouse and distribution facility for its aluminum products. The property includes 4,160 square feet of office space.
Other notable tenants at Meridian Business Park include Sysco Corp., Yucaipa Company (Fresh & Easy), Kia Motors and McLane Foodservice.
Newcastle Partners completed the property in late 2013. Phil Lombardo and Chuck Belden of Cushman & Wakefield represented both the buyer and Newcastle in this transaction.