Property Details for 37373 Industry Way

Year built

2023

Property size

15,610 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional Class A industrial warehouse investment opportunity in Murrieta, CA, presents a compelling proposition for discerning investors. The property, encompassing 15,610 square feet across two buildings (37373 & 37385 Industry Way, 92563), boasts a 5.69% cap rate and a strong, credit-rated, single tenant—a government defense contractor—under a triple-net (NNN) lease commencing March 1, 2024, with 100% occupancy. The lease features a 3% annual rent bump, ensuring consistent income growth. Built in 2023, the property includes 16-foot ceiling heights, two loading docks, and approximately $750,000 in tenant-paid improvements, encompassing office space, kitchenettes, conference rooms, a lab, and reception areas. Additional features include 12x12 ground-level doors, a 200 sq ft exterior compressor housing, an interior pass-through with a forklift ramp, central air compressor with 60 workstations, wash stations, ample electrical outlets, exclusive parking, and optional fenced yards. The property also benefits from approved exterior signage facing the French Valley Airport. The current lease rate is $1.78 per square foot per month plus NNN expenses, and the lease structure offers advantageous terms for negotiating extensions or options before March 2028. The tenant, Aevex Aerospace, occupies an additional 65,000 square feet across the runway, signifying their commitment to the location and continued growth. This is a stabilized investment with a strong tenant and significant upside potential. The NOI is $315,180, and the asking price is $5,540,000.

Location Insight

City

Murrieta

County

Riverside

State

California

Longitude

-117.126

Latitude

33.5772