CORONA, CA-The KPC Group has acquired the prominent corporate office complex formerly known as Corona Summit for an undisclosed price. The deal includes the purchase of three buildings that comprise an approximately 300,000-square-foot, state-of-the art corporate campus, as well as an adjacent 2-acre vacant parcel. KPC plans to transform the site into an employment and business hub, stimulating new economic growth for the region.

The transaction is one of Riverside County’s largest and most significant commercial real estate acquisitions in recent years. The buildings at Corona Summit, located adjacent to the 91 Freeway at the McKinley South off-ramp, were completed in 2009, but none of the space was ever occupied. The property had been tied up in litigation for the past several years and was ultimately sold pursuant to a court order. Construction loans for the project totaled in excess of $80 million.

The campus, which will be renamed “KPC Summit,” has exceptional accessibility to the region’s busiest transportation arteries and is visible to nearly 500,000 vehicles that pass by every day. The location will give tenants significant public exposure and recognition as well as provide convenient access for employees. The McKinley and State Route 91 area is generally acknowledged as one of the most active and sought-after commercial districts in Riverside County.