Lake Elsinore, $3.46-million industrial building acquisition by San Diego Ice Company24 May 2018
Avison Young Principal Stan Nowak and Associate Cody Lerner, who split their time between the company's Inland Empire and San Diego offices, represented the buyer, an entity of San Diego Ice Company, an ice manufacturer and distributor. The company will fully occupy the building for use as its ice manufacturing and distribution facility. The seller, TOLD Properties, LLC, was represented by Lee & Associates.
“We are pleased that we successfully identified a strategically located, quality asset for our client,” comments Nowak. “San Diego Ice Company has been extremely successful in the San Diego region and is now expanding its service territory and client base to the greater Inland Empire area. The company sees this growing region as one that is underserved with pent-up demand.”
With construction completed in 2018, the property is located at 470 3rd Street and is situated on 1.47 acres of land. The property features 2,800 sf of office space, 1,400 sf of mezzanine area, skylights, two dock-high and two grade-level loading doors and 59 parking spaces. The asset is within Fairway Business Park, which currently consists of three buildings with other future phases to be developed.