NAI Capital Completes Sale of 20.2-Acre Mixed-Use Development Site in Wildomar, CA
Irvine, CA, Thursday, July 27, 2017– Executive Vice President David Knowlton, CCIM, SIOR and Senior Vice President John V. Bosko with NAI Capital completed the sale of a 20.2-acre mixed-use development site in Wildomar, Calif. David and John represented the seller, Lion’s Lair Enterprises, Inc. The buyer was Spruce Grove, Inc. The total sale price was $5,000,000 or approximately $250,000 per acre.
The land parcel sits on the North-East corner of Prielipp Road and Yamas Drive, in the city of Wildomar, approximately 65 miles Southeast of Los Angeles in Riverside County. The property is in the center of a rapidly developing commercial and residential area. It is across the street from Santa Rosa Apartment Homes, a 320-unit luxury apartment complex. The 20.2-acre site is in a prime location, adjacent to the Inland Valley Medical Center, Kaiser Permanente, Southern California Edison's regional service center, and a proposed 80-acre community college campus on Clinton Keith Road North of the property.
Knowlton said, “Demand for land in high-growth areas of the Inland Empire continues to be strong. This is a great opportunity for an investor/developer to acquire a piece of land, take it through the entitlement process and add value.”
“Once entitled, this property will go up in value significantly. This is a great investment,” said Bosko.
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #00806840.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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