Corona Industrial Building Sold for $20 Million

CORONA, Calif. - May 26, 2015 - PRLog -- CORONA, Calif.—May 26, 2015—The Newport Beach office of Lee & Associates, the largest broker-owed commercial real estate firm in the nation, negotiated a $20 million sale and purchase of Magnolia Point, a 201,345-sqauare-foot industrial building located at 1560 E. 6^th Street in Corona.

         Ted Sawyer and Jim deRegt of Lee & Associates-Newport Beach, represented the buyer, Padma Laxmi, LLC, in the off-market transaction. Jeff Ruscigno of Lee & Associates-Riverside, along with Ben Seybold of CBRE, represented the seller, CT Corona Partners I, LLC.

         “This building, which was constructed in 2014, sits in a prime location at Magnolia and 6^th Street in Corona,” said Sawyer. “With easy access to the 91 and 15 freeways, a state-of-the-art facility, it was the perfect match for the buyer, who plans to occupy the majority of the building and lease the rest.”

         The free-standing building, which is A LEED certified,  includes a clear ceiling height of 32 feet, dock-high doors and loading and 21 drive-in, grade level doors.

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About Lee & Associates

Celebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, South Carolina, Texas, and Wisconsin. With 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information can be found at http://www.lee-associates.com. You can also follow us on Facebook (https://www.facebook.com/LeeAssociatesCRE), LinkedIn (https://www.linkedin.com/company/lee-and-associates) and Twitter. (https://twitter.com/LeeAssociatesRE)