Oxford Properties Sells 238,473 SF Light Industrial Portfolio in Riverside

Oxford Properties recently completed the sale of a 238,473-square-foot light industrial portfolio located in Riverside, California. The buyer was Sierra Ridge Capital, which secured equity financing from Los Angeles-based Pacific Properties Group for the acquisition. The financial terms of the transaction were not disclosed.

The portfolio comprises two key assets. One is a 132,800-square-foot, fully leased multi-tenant facility at 12000 Magnolia Avenue, constructed in 2018 with a 30-foot clear height. The second property is the 105,673-square-foot Hunter Business Park at 1110-1130 Palmyrita Avenue, featuring 14 suites built in 1990 with an 18-foot clear height.

JLL Capital Markets played a dual role in the deal, with Patrick Nally, Ryan Spradling, and Shae Vomund representing Oxford Properties in the sale. Additionally, Jeff Sause, Danny Ryan, and Jenny Barger of JLL Capital Markets arranged a $25 million acquisition loan for Sierra Ridge Capital through a correspondent life insurance company. This transaction highlights continued investor interest in well-located industrial assets within the Inland Empire market.