Magnolia Auto Center – Riverside, CA

Magnolia Auto Center is a 65,596 square foot incubator multi-tenant automotive/industrial park on Magnolia Avenue adjacent to the 91 freeway in Riverside County.  MCA acquired the project at pricing significantly below replacement cost in an off market transaction.  A unique characteristic of this property is the extreme stability in the rent roll with over 52% of the tenancy at the time of closing having been at the property for over 12 years.  Magnolia Auto Center is an example of MCA’s strategy to acquire functional incubator multi-tenant industrial properties at pricing levels significantly below replacement cost with strong income characteristics.