Panattoni Invests $6M in Corona Industrial Property

Developer Plans New Distribution Center Project at 1346 Railroad

Panattoni Development purchased the industrial building at 1346 Railroad St. in Corona from 1346 Railroad Associates Ltd. for $6 million, or about $42.50 per square foot. It was reported that the buyer would tear down the building and construct a new distribution center. The schedule of construction was undisclosed. This building was vacant at the time of sale. Peter Sowa of Cushman and Wakefield in Irvine represented both sides.