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11/05/14
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Global industrial REIT Prologis has purchased via a pre-commitment transaction a 428k sf, state-of-the-art building currently under construction in the Inland Empire city of Rialto. The building was sold by the developer, Irvine-based CapRock Partners.
Set for completion in spring 2015, the building is part of a larger CapRock Partners project that encompasses 45 acres and two large- scale industrial buildings located at the signalized intersection of North Linden Ave and West Casmalia St. Just 500 feet north of the 210 Fwy and serviced by both the Alder and Ayala Street on and off ramps, the 18.74-acre parcel also is near the intersection of Interstates 10 and 15, placing it strategically in the center of key transportation corridors.
Paul Earnhart, Brian Pharris, Jeff Smith, and Ryan Lal at Lee & Associates represented both parties in the transaction.
“Prologis is the premier institutional owner in the Inland Empire and they had confidence in CapRock's ability to perform on time and on budget” said Jon Pharris, Co-Founder and Director of Acquisitions for CapRock Partners. “This Rialto location adds to their existing footprint in the immediate area and the site’s Inland Empire location makes it ideal for Prologis' tenants, who typically are Fortune 1000 firms seeking high-performance distribution centers.”
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