Kearny Real Estate

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42301 Zevo Drive - Temecula Industrial

Recognizing the strong demand and the difficulty in finding new, affordable industrial product throughout north San Diego County, combined with the significant residential growth in Temecula, Kearny acquired 42301 Zevo Drive in June 1999. Temecula Industrial is a 223,140 sf industrial/distribution and light assembly facility located in the Westside Business Centre in Temecula, California. The building is within one mile of Interstate 15 via Winchester Road which provides a diamond interchange on the I-15. The building contains 36 dock-high and six grade-level doors and has a clear height of 26. The building is divisible into six 36,000 sf units containing 10% mezzanine space. Each unit has six dock-high doors, one grade-level door and a separate identifiable entrance. Access is provided from four separate drive aisles and the loading dock areas are designed for easy maneuvering to accommodate 75 trucks. Kearny purchased the building 60% occupied and immediately began an aggressive marketing campaign which drove occupancy to 100% within three months. The largest tenant, The Scotts Company, vacated the building in September 2001 to occupy a 412,580 sf industrial build-to-suit developed by Kearny on an adjacent site. Guidant corporation currently occupies 66,280 sf under a three year lease and Creative Touch Interiors will occupy 36,910 sf under a seven year lease starting November 2003. The acquisition of 42301 Zevo Drive introduced Kearny to the Temecula market and was the key reason for Kearny’s subsequent acquisition of the 55 remaining acres in Westside Business Centre. Having market knowledge and insight to tenant demand created the opportunity for Kearny to capture a second investment in the market.