Located in Southern Inland Empire/Northern San Diego, a submarket with 98% occupancy
Temecula, CA – September 5, 2023 – Brennan Investment Group (“Brennan”) has partnered with Walker & Dunlop Investment Partners (“WDIP”) to acquire a freestanding manufacturing and distribution facility totaling 160,561 square feet in the Rancho California Business Park at 43195 Business Park Drive in Temecula, California, within the southern Inland Empire and northern San Diego submarkets. Furniture City will lease the building back on a short-term basis as they build a larger facility in another market.
The dual-purpose warehouse manufacturing design includes a heavy power system of 4,000 amps at 480 volts, 24-foot clear ceiling heights, and eight dock doors with three ground level doors. The property sits on 11.5 acres and has a secure fenced yard spanning 1.5 acres, providing ample outdoor space for additional truck and trailer parking. The facility also includes 15,000 square feet of office space and an additional 15,000 square feet of HVAC production area to accommodate diverse business needs.
“The Temecula facility will provide tenants with a lower price alternative, compared to its neighbors to the north and to the south, with a strong labor pool,” said Tim Gudim, Managing Principal for Brennan’s West coast market. “High occupancy rates and strong tenant demand were key considerations in making our investment decision.”
“Brennan was able to accommodate the needs of the corporate seller by providing a short-term sale leaseback, and we are pleased to team with our partner Walker & Dunlop,” said Scott Gibler, Executive Director of Corporate Services for Brennan.
“Southern California offers compelling risk-adjusted opportunity if you are willing to be creative and persistent,” observed Scott McKibben, Chief Investment Officer and Managing Principal of Brennan. “The continuing strength of southern California’s industrial fundamentals makes southern California a long-term investment target for Brennan.”
Brian Cornell, head of Equity at WDIP, said “We couldn’t be more excited to partner with an experienced industrial operator like Brennan, investing in an infill industrial property with significant upside. This deal is representative of both what WDIP is seeking in the current investment climate, as well as the level of creativity and collaboration required to properly structure deals amidst current debt market challenges.”
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $6 billion in industrial real estate. The company’s current portfolio spans 27 states and encompasses 52 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
About Walker & Dunlop Investment Partners
Walker & Dunlop Investment Partners (“WDIP”) is a registered investment advisor and the dedicated real estate investment management firm within Walker & Dunlop, one of the largest commercial real estate finance and service companies in the U.S. WDIP aggregates and institutionalizes portfolios for investors via tailored debt and equity investment vehicle solutions. Since inception in 2006, WDIP has transacted on over $15.5 billion of real estate across over 650 properties, specializing in value-add and opportunistic investments. WDIP currently has over $6.4 billion in AUM. For more information, visit www.wdinvestmentpartners.com.
All investments have risk of loss and WDIP cannot guarantee any investment strategy will achieve its goals and objectives. Nothing herein is an offer to sell any security, including an interest in any private fund.
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