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12/12/18
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A 130.5k sf, three-building industrial portfolio in Corona traded hands at a price of $19.6 mil, or $150/sf. The buyer was TH Real Estate, a real estate investment manager.
The properties are located at 1467 and 1468 Davril Circle, and 1461 Railroad St, north of the 91 Fwy and west of I-15. All three buildings are occupied under a long-term lease by Thoro Packaging and serve as the corporate headquarters, manufacturing and distribution facilities for the Corona-based packaging company, a wholly owned subsidiary of Autajon, a French owned company with over 4,200 employees and 36 subsidiaries worldwide.
Mike Hefner with Voit Real Estate Services represented the buyer and the seller, a private investor.
"The buyer, TH Real Estate, one of the largest institutional owners of Southern California industrial real estate with an existing portfolio of 16.2 msf, intends to hold the buildings as a long-term investment," noted Hefner.
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