California

CORONA, CALIF. — Denver-based EverWest Real Estate Investors has completed the $37 million sale-leaseback acquisition of Magnolia Point, a Class A industrial facility in Corona. Located at 1560 E. Sixth St., the 210,345-square-foot building features 32-foot clear heights, 21 dock-high doors, two ground-level doors, a 150-foot truck court and more than 27,300 square feet of office space. Amrapur Overseas occupies the entire warehouse/distribution building, which was constructed in 2014. Richard Schwartz, Joey Reaume and Tommy Gilmore of Colliers International represented the buyer, while Jim deRegt of Lee & Associates represented the seller in the transaction.

TRACY, CALIF. — Nearon Enterprises has purchased Eastgate Business Park, an industrial property located at 1447 Mariana Court in Tracy. Indianapolis-based Scannell Properties sold the asset for an undisclosed price. Situated on 11.9 acres, the property features 155,000 square feet of industrial space, 28-foot clearance, a gated truck court, 3,000 amps of electrical service, ample parking and dock-high/grade-level loading. Additionally, the facility features 18,000 square feet of temperature-controlled space, a tenant-funded development. Blue Line Foodservice Distribution, a national food distributor and restaurant supplier, occupies 37 percent of the property on a lease through 2030. Darla Longo, Barbara Perrier, Rebecca Perlmutter, Tom Davis and Dan Davis of CBRE, along with Jim Martin of Lee & Associates, represented the seller in the deal.

ESCONDIDO, CALIF. — MCA Realty has completed the disposition of Pinnacle Business Park, a two-building industrial property located at 2750 Auto Park Way in Escondido. San Diego-based Providence Capital Group acquired the asset for $8.2 million. MCA Realty purchased the 40,968-square-foot property in November 2018 for $5.9 million and completed interior and exterior renovations to increase the income profile of the asset. When originally acquired, the 13-suite project was 80 percent occupied with in-place rents approximately 25 percent below market rates. The renovation program enabled MCA to increase in-place rents to market value and lease-up vacant space. Tucker Hohenstein, Michael Kendall and Connor Boyle of Colliers International represented the seller, while Evan McDonald, also of Colliers, represented the buyer in the deal.