Colliers Brokers the ±$61 Million Sale of Large-Scale Menifee Industrial Project

Jupiter Holdings LLC secures buyer for 33.86-acre site entitled for 544,115 SF in Phase II of Scott Road Commerce Center

Los Angeles, Calif. March 9, 2023 – Colliers today announced the sale of Scott Road Commerce Center’s Phase II, a large-scale, fully entitled (shovel-ready) 33.86-acre development site entitled for 544,115 SF of Class A industrial product. Phase II will feature Buildings 3, 4, and 5 at 33520, 33580, and 33540 Zeiders Rd, Menifee, CA 92584. Patrinely Group acquired the Phase II development site from the Newport Beach-based seller, investment firm Jupiter Holdings LLC.

Colliers’ Western Region Industrial Capital Markets Group, comprised of Michael Kendall, Gian Bruno, and Kenny Patricia, partnered with fellow Colliers Industrial experts Joey Jones and Tucker Hohenstein and Lee & Associates’ Gordon Mize in executing the sale. Kendall exclusively listed the property and represented Jupiter Holdings LLC in the transaction.

“This transaction highlights the continued demand for low-risk, shovel-ready industrial development sites that allow an investor a speed-to-market opportunity in one of the most dynamic industrial markets in the country, the Inland Empire,” says Kendall. “Congratulations to both Jupiter Holdings and Patrinely on a great execution and a fantastic project—one that will shape the City of Menifee for years to come.”

Part of an expansive five-building development totaling 701,262 square feet, Phase II is situated just North of the Murrieta and Temecula submarkets immediately off the Scott Road and I-215 interchange. The project is the city’s first Class-A industrial development since 2018, and it offers a unique investment opportunity to establish a presence in a rapidly growing and dynamic sub-market.