COMMERCIAL REAL ESTATE TRANSACTION ALERT
Avison Young announced today it has brokered the sale of a 46,785 square-foot (sf) hi-tech food production facility located at 20343 Harvill Avenue in Perris, CA, a city within the greater Inland Empire region. The asset was sold for approximately $8.09 million and included a significant amount of high-grade food processing equipment built to medical grade standards.
Avison Young Principal Stan Nowak and Senior Vice President Cody Lerner, who are both located in the Inland Empire office in Ontario, represented the seller, an industry-leading pet food manufacturer. The buyer, RM5 Holdings, LLC, an entity of Jimenez Mexican Food, Inc. was represented by Justin Null with Lee & Associates.
“Jimenez Mexican Foods, Inc. will relocate its Riverside, CA location to this larger Perris facility to accommodate the needs of this growing company,” said Nowak. “The company will fully occupy the facility and will use it for the production of various Mexican food products aligned with its brand, as well as producing food products for other private labels.”
Built in 2003 and extensively updated for food processing in 2014, the asset is situated on 3.34 acres and features 1,800 sf of freezer storage, 7,140 sf of refrigerated cold storage/production area, two grade-level doors, 4 dock positions and 28-foot clear height. It also includes a 6,000-sf office and reception area with two large break rooms, conference room and private offices.
The City of Perris is one of the Inland Empire’s premiere industrial and logistics hubs. This rapidly growing community encompasses 31.5 square miles within the County of Riverside. Located along the 215 freeway corridor south of the State Route 60, the city provides convenient access to Ports of Los Angeles and Long Beach as well as San Diego and San Bernardino counties. The population of Perris has more than doubled since 2000 and now exceeds 75,000.