Intersection Equities, LLC announces the acquisition of Riverside Business Park, a 122,000 square foot, industrial park in Jurupa Valley, CA. for $19.5 million.
— Eric DeWees
SAN DIEGO, CA, UNITED STATES, June 20, 2023/EINPresswire.com/ — Intersection Equities, LLC announces the acquisition of Riverside Business Park, a 122,000 square foot, industrial business park in Jurupa Valley, CA. The asset was purchased for $19.5 million. Barret Woods of Lee & Associates represented the Seller, Transition Properties, L.P., and Stefan Pastor of Stream Realty represented the Buyer, a new joint venture between Intersection Equities, LLC and Blue Vista Capital Management, LLC.
Riverside Business Park is a 122,000 square foot, multi-tenant business park comprised of 30 suites ranging in size from 1,500 to 11,000 square feet. The Property features a total of 30 drive-up doors and is positioned on 8.9 acres of land. The park is located directly along CA State Route 60 and is in close proximity to State Route 91 and Interstate 215.
The purchase of Riverside Business Park aligns with Intersection’s strategy of acquiring well-located industrial assets that offer significant value-add potential in core markets west of Denver. “We acquired the property at a substantial discount to replacement cost and will make strategic capital improvements focused upon enhancing the appeal of the project to current and prospective tenants.” said Intersection Senior Director of Acquisitions, Eric DeWees. “This is our 4th industrial acquisition and we’re excited to be doing it with a new partner in Blue Vista.” Anton Myskiw from Intersection added, “This is a rare investment opportunity in a market we have been hoping to break into for some time. We are eager to begin executing our business plan and create an exceptional industrial asset on behalf of our new partnership.”
Intersection CRE, Inc. (“Intersection”), maintains a geographically diverse portfolio of 31 assets totaling 1.2 M square feet across seven states in the Western United States. Intersection operates offices in San Diego, Carlsbad, and Salt Lake City. To learn more, visit www.intersectioncre.com.
About Blue Vista
Blue Vista Capital Management, LLC (“Blue Vista”) is Chicago-based investment management firm which sponsors single-sector and diversified real estate equity and credit strategies across the risk-return spectrum. Blue Vista offers investors the benefits of a vertically integrated platform, complementary strategies managed by experienced teams, and deep experience as an owner, operator and lender across all property types and various markets in the U.S. and Canada. Since its inception in 2002, the firm has invested over $13.0 billion in total capitalization, with the goal of challenging the status quo, setting high standards and bringing a relationship-based, client-focused approach to real estate investing. For more information, please visit www.bluevistallc.com.