Faropoint Buys Industrial Facility in Corona, California for $21.5M

CORONA, CALIF. — Faropoint has acquired 725 E. Harrison Street, an industrial property in Corona, for $21.5 million. Makenna Peter, Luke McDaniel and Hunter McDonald of JLL Capital Markets represented the undisclosed seller in the deal. Built in 1991 on a 5.8-acre site, the fully secured 116,555-square-foot facility features 2,500 amps of power, 27- to 29-foot clear heights, seven dock positions with the ability to expand to nine dock positions, four grade-level doors and 125- to 140-foot truck court depths. Additionally, the property includes 222 auto parking stalls and connectivity to Corona’s Inland Empire Brine Line. At the time of sale, the asset is fully leased to a long-tenured industrial tenant that serves the aerospace, automotive and medical industries.