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August 11, 2020
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Spec Industrial Facility in the Inland Empire Sells for $123 Mil


Columbia Business Park Phase I, a 1 msf, Class A speculative industrial building, was acquired by an institutional real estate investor for $123.75 mil ($124/sf), making the deal one of the largest single-building transactions ever completed in the Inland Empire. The asset was sold by Trammell Crow Company and its client Washington Capital Management Inc (WaCap), on behalf of a pension fund client.

Phase 1 sits on a 46-acre site, located in Riverside’s Hunter Park submarket, and is part of the 72-acre master planned Columbia Business Park. Trammell Crow Company developed Columbia Business Park Phase I with best-in-class logistics specifications such as 37-foot clear height, 185-foot deep secured truck courts, ESFR and dedicated truck queuing lanes.

The project is located in the heart of Southern California’s Inland Empire, provides direct access to the region’s major highways and is in proximity to the Hunter Park/University of California Riverside MetroLink station. Additional phases of the park include plans to develop a 371k sf distribution center on an existing pad-ready site and an adjacent seven-acre parcel that could accommodate a 90k sf logistics building.

Darla Longo, Barbara Perrier, Rebecca Perlmutter, Brett Hartzell and Eric Cox of CBRE’s National Partners, along with local market experts, David Consani of CBRE and Kevin McKenna of Colliers, represented WaCap in the transaction.

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