La Jolla-based Westcore has acquired an industrial building in Temecula for $16 million.
The seller of the 108,927 square-foot warehouse at 28381 Moraga Drive was not disclosed.
Built on a nearly 6.7-acre site, the warehouse has clear heights of 40 to 42 feet, dock-high loading, and a fenced and secured truck yard.
Westcore plans to make several improvements to the property including new paint, drought-tolerant landscaping, a new roof, and skylights.
“This building has very good bones and sits in an extremely tight sub-market with vacancy that hovers around 1% and very limited new construction,” said Hack Adams, managing director at Westcore.