Lake Elsinore (January, 2020) – Adler Realty Investments, Inc. (Adler) in Partnership with Fairway Commercial Partners Inc, recently sold four buildings in phase two of the Fairway Industrial Park. Phase 2 construction was recently completed consisting of six standalone buildings located off Birch Street in the city of Lake Elsinore. Phase 1 consisting of three buildings totaling 74,800 square feet was completed and sold in 2018. The four buildings were sold to four separate owner-users. Gross sale price was nearly $8 million dollars. Phase 2 still has two buildings available for sale, one being 16,034 square feet and the second being 9,978 square feet.
“We are pleased with the completion of the construction of these smaller size buildings which remain in strong demand from owner-users,” said Michael Adler, president of Adler. “Riverside County continues to grow and requires more quality industrial product.” added Rod Oshita, President of Fairway Commercial Partners. “The industrial park benefits from a central Inland Empire location and strong labor pool with easy access to interstate 15”.
Phase 3 of the industrial park is designed for an additional 140,000 square feet in four buildings. Larry Null and Charlie Black of Lee & Associates, represented the seller in the transaction and are marketing the remaining buildings.