MCA Realty Expands Southern California Footprint with Major Temecula Acquisition [Los Angeles Times (CA)]
Cushman & Wakefield Ltd. Common Shares (CWK)
Last cushman & wakefield ltd. common shares earnings: 2/27 04:09 pm
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Source: Los Angeles Times
industrial building with an additional 5.54 acres of land located at 41995 Zevo Drive in Temecula. The firm acquired the property from a private investor with its MCA Realty Industrial Growth Fund II . MCA currently owns six industrial properties encompassing one million square feet in Southern California. MCA Realty will rebrand the property and make significant exterior and interior improvements. It also plans to pursue strategies to maximize the value of the excess land. Scott Stewart of Lee and Associates has been retained to oversee leasing at the property. “We acquired this project for its attractive going-in yield, excess land and significant upside,” said Tyler Mattox , principal at MCA Realty. “Furthermore, Temecula has emerged as a dynamic and rapidly growing submarket within Southern California, attracting a diverse mix of industries, ranging from advanced manufacturing to logistics and distribution due to its strategic location along key transportation corridors.”
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