5
RIVERSIDE, CALIF. — Silgai Development & Management has acquired a 3-acre development parcel located at the southwest corner of Meridian Parkway and Authority Road in Riverside for an undisclosed price. Mario Calvillo of Lee & Associates Riverside represented the buyer, while Finn Comer of Lee & Associates represented the undisclosed seller in the deal.
At the time of sale, the site was entitled with construction drawings for two industrial buildings totaling 45,751 square feet. The buyer plans to develop the 21,139-square-foot and the 24,612-square-foot facilities. Groundbreaking is slated to begin in the second quarter of 2025. The buildings will be available for sale or lease.