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10/19/21
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An investor advised by New York-based Zurich Alternative Asset Management (ZAAM) recently closed on the acquisition of a 225.4k sf industrial building in the Inland Empire city of Colton. The property, I-215 Commerce Center, is located at 1648 Ashley Way and was 100% leased at the time of sale.
Delivered in 2021 by Transwestern Development Company, I-215 Commerce Center features 32-foot clear heights, 28 dock-high loading doors, ESFR sprinkler system, 156 auto parking stalls and 33 trailer parking stalls. The property offers frontage facing Interstate 215 and is in proximity to Interstate 10 and Routes 60 and 91.
“Located in one of the most active industrial markets in the U.S., I-215 Commerce Center was positioned to meet TIG’s investment objectives due to its flexible building design and the unwavering strength of the region’s leasing and capital markets activity,” said Ryan Grable, Vice President at TIG. “High leasing volumes in the Inland Empire coupled with rising replacement cost, created the optimal conditions for TIG to sell the asset and will provide Zurich Alternative Asset Management the opportunity for long-term cash flow.”
CBRE’s Darla Longo, Barbara Perrier and the National Partners West team represented TIG in the transaction. ZAAM was represented by Chris Edgar and Sean Bannon. Transwestern Real Estate Services provided Asset Services and CBRE provided leasing services for the property.
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