14538 Meridian Pkwy, Riverside, CA 92518
29,275 SF | 100% Leased | Industrial Building | Riverside, CA 92518 | $5,650,000 ($193/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,650,000
- Property Type
-
Industrial
- Price / Square Foot
- $193
Listing Contacts
Sammy Cemo
Verified Profile
Anthony DeLorenzo
Verified Profile
Austin Reuland
Verified Profile
Bryan Johnson
Verified Profile
Nick Williams
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- Property Info
Property Overview
INLAND EMPIRE FLEX OWNER/USER OPPORTUNITY
* Incredible opportunity to acquire a high-image user flex/industrial building off Meridian Parkway in Riverside at a below market PSF basis.
* The property, consisting of 29,275 SF, offers a user the flexibility of occupying the full project, or keeping the existing tenant in 11,250 SF. The property has two ground level doors, a lab space, two separated warehouses that can be combined, and the ability to peel back some second floor mezzanine to expand the warehouse space.
* There is an opportunity to increase the warehouse clear heights, to 25 feet, with the removal of the existing mezzanine space.
STRONGEST MARKET FUNDAMENTALS
* The Inland Empire, a region whose $200-billion economy is equal to that of the State of Utah, has been Southern California’s best-growth market for nine straight years, averaging ±5.2% in economic grow each year, according to the Federal Reserve of St. Louis. The Inland Empire’s population base of 4.6 million people is Southern California’s second largest fueled by a growth rate that is almost 3.5 times more than the rest of the region since 1990.
* The IE, the best industrial market in the United States, consists of 636M sq. ft. of industrial inventory, and a vacancy rate of 3.5%.
* The Riverside submarket consists of 58.4M sq. ft. of industrial inventory, with a current Q3 2023 vacancy rate of 2.3%.
STRATEGIC INLAND EMPIRE FREEWAY LOCATION
* Situated off Interstate 215 freeway, the property has convenient freeway access and is just south of the 215 and highway 60 split.
* Incredible industrial location surrounded by national and regional industrial users.
* Great Southern California demographics with a 5-mile population base of 245,441
with an average household income of $110,860.
* Incredible opportunity to acquire a high-image user flex/industrial building off Meridian Parkway in Riverside at a below market PSF basis.
* The property, consisting of 29,275 SF, offers a user the flexibility of occupying the full project, or keeping the existing tenant in 11,250 SF. The property has two ground level doors, a lab space, two separated warehouses that can be combined, and the ability to peel back some second floor mezzanine to expand the warehouse space.
* There is an opportunity to increase the warehouse clear heights, to 25 feet, with the removal of the existing mezzanine space.
STRONGEST MARKET FUNDAMENTALS
* The Inland Empire, a region whose $200-billion economy is equal to that of the State of Utah, has been Southern California’s best-growth market for nine straight years, averaging ±5.2% in economic grow each year, according to the Federal Reserve of St. Louis. The Inland Empire’s population base of 4.6 million people is Southern California’s second largest fueled by a growth rate that is almost 3.5 times more than the rest of the region since 1990.
* The IE, the best industrial market in the United States, consists of 636M sq. ft. of industrial inventory, and a vacancy rate of 3.5%.
* The Riverside submarket consists of 58.4M sq. ft. of industrial inventory, with a current Q3 2023 vacancy rate of 2.3%.
STRATEGIC INLAND EMPIRE FREEWAY LOCATION
* Situated off Interstate 215 freeway, the property has convenient freeway access and is just south of the 215 and highway 60 split.
* Incredible industrial location surrounded by national and regional industrial users.
* Great Southern California demographics with a 5-mile population base of 245,441
with an average household income of $110,860.
Property Details
- Class
- B
- Year Built
- 2006
- Stories
- 2
- Property Subtype
- Distribution
- Lot Size (sq. ft)
- 60,113 SF
Highlights
- INLAND EMPIRE FLEX OWNER/USER OPPORTUNITY
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