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7/21/23
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Clarion Partners and OC-based investment firm EBS Realty Partners have teamed up in the purchase of a 19-acre industrial site in Colton for $61 mil. Located at 275 and 375 De Berry St, on the west side of I-215 at S. La Cadena Dr, the site is currently comprised of two vacant industrial buildings and a dirt lot.
The site is approved for the construction of a 412k sf warehouse that could be completed as early as Q3 2024. The property is adjacent to I-215, connecting Colton to the rest of the Inland Empire.
CBRE’s Darla Longo, Barbara Perrier and Eric Cox represented the seller, Newport Beach-based real estate investment firm Hager Pacific Properties, in the transaction.
“This project provided the buyer with an incredible opportunity to acquire one of the very few assets that is outside of the warehouse development moratorium in the Inland Empire,” said Longo. “Our team fielded many competitive offers, given the truly irreplaceable distribution location of this property.”
The Inland Empire industrial market is one of the tightest in the nation, with a vacancy rate of 0.5%.
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