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2/12/18
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Alere Property Group LLC recently acquired an 81k sf distribution facility in corona for $12.1 mil ($149/sf). The building is located at 200 River Rd, west of I-15 and north of the 91 Fwy.
The building is a state-of-the-art manufacturing and distribution facility with 28’ clearance, ESFR sprinklers, heavy power & 11 dock high loading doors. The 4.32-acre site is located in proximity to the 91/15 freeway interchange.
CBRE’s Tom McAllister, Rebecca Perlmutter and Darla Longo represented the buyer. The CBRE team also repped the seller, 66 River Partnership LP, a California-based developer.
“This region is in such high demand, particularly new construction,” noted McAllister. This is one of the highest-quality leased investments with a long-term financially solid tenant. Not surprisingly, the deal drew multiple offers.”
The Inland Empire industrial market has become its own “North Star”—a shining leader unmatched in sheer activity and absorption, according to the latest CBRE research report. Strong tenant activity during the year solidified the IE as the beacon for industrial growth in Southern California. The region ended the year with an overall vacancy rate of 3.7%. A sizeable portion of activity during Q4 2017 stemmed from pre-leasing transactions earlier in the year, while steady demand for industrial space under 300k sf shouldered the remaining load. Overall, 2017 mirrored the previous two years with unwavering demand and sustained rental growth throughout the market.
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