Los Angeles, CA (November 1,2015)- Circle Industrial, in less than 4 months of ownership, has reached 95% occupancy on the recently acquired Magnolia Circle multi-tenant industrial property located at 12155 Magnolia Ave, Riverside, CA. The project was 55% occupied at the time of acquisition.
Pat Maloney, CEO of Circle Industrial, credits pro-active management and leasing stating that “Circle Industrial has an eye for functionality. Since we only focus on industrial property, we recognized the potential at Magnolia Circle. By working aggressively with brokers, reacting quickly to tenant needs, and concurrently making strategic upgrades in the business park, we’ve had great success stabilizing the project and adding value for our investors.” Circle Industrial is teamed with PRG as property manager and Lee & Associates as broker for the Magnolia Circle Industrial Park.
Circle Industrial is a real estate private equity firm focused on the acquisition, development and operation of industrial properties in strategic U.S. markets. Circle Industrial is led by executives Pat Maloney and Eric Omohundro, who have been working and investing together for years at Circle Industrial and previously at Prologis (NYSE: PLD). www.circle-industrial.com