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COMMERCIAL REAL ESTATE NEWS
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Cornerstone buys industrial property in Santa Ana for $1.3 million

The 13,200-square-foot building is occupied and sits on an acre of land near the city’s center.

BY JENNIFER CHINPublished: August 12, 2010 11:41 AM

Irvine-based Cornerstone Core Properties REIT has acquired a freestanding building located in a planned industrial area of Santa Ana for $1.3 million.

“What is interesting about this acquisition is that we purchased the building on a cap rate or investment basis, but our intent is to sell the property to a business on an owner-user basis at some point in the future,” said Cornerstone Founder Terry Roussel.

The 13,200-square-foot property is occupied and sits on approximately one acre of land in the center of the city, with proximity to the 5 and the 55 freeways to provide access from four industrial regions – North County, West County, the airport area and South County.

Cornerstone offers investors conservative real estate alternatives that create cash flow and growth while avoiding bond volatility and inflation.

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