CATHEDRAL CITY, CA – BH Properties LLC, a Los Angeles-based commercial real estatefirm, has acquired three industrial buildings totaling 32,602-square-feet in an industrial park located in the Bankside Business Center at 36405, 36555 Bankside and 36605 Sunair in Cathedral City, Calif.
“This property was a perfect fit in our investment strategy, because of its prime location in Riverside County and Coachella Valley,” said Steve Jaffe, executive vice president of BH Properties. “While the complex is in fairly good condition already, we plan to make some improvements and will be prepared to market the property for the new year.”
Currently, the property is 35 percent leased and includes a well-known regional taxi company and a window cleaning product distributor. The building is just off Highway 111 in the Riverside/Coachella Valley region.
Since January, BH Properties has been active in the Southernregion, with recent acquisitions totaling 199,440-square-feet of office space in both Riverside and Redlands, Calif.
BH Properties purchased the property through Auction.com.