Colliers Western Region Industrial Capital Markets Group Brokers the Sale of 354,810 SF Class-A Facility
Los Angeles, Calif. December 20, 2022 – Colliers today announced the sale of a 354,810 square-foot single-tenant, NNN, Class-A Industrial facility in Southern California’s Inland Empire. Positioned in one of the country’s most sought-after markets, in a particularly high-growth location at 251 E. Rider St., Perris, CA 92571, the property has sold for $90,000,000.
Colliers’ Western Region Industrial Capital Markets Group, comprised of Michael Kendall, Gian Bruno, and Kenny Patricia, partnered with fellow Colliers Industrial experts Mark Zorn and Cory Whitman in providing market expertise and brokering the sale. Kendall exclusively listed the property and represented the undisclosed seller in the transaction, wherein GLP Capital Partners acquired the property.
“As the Inland Empire and its surrounding submarkets continue to be perceived as a haven in this turbulent capital markets environment and property-level fundamentals remain historically strong, investors seek to acquire properties with an attractive basis and a good market-to-market profile,” says Kendall. “This was a strategic investment with seamless execution, and we are thrilled with the successful result for both parties.”
Built in 2019, the 354,810 square-foot property is situated on approximately 16.3 acres, with features including 47 dock-high doors with a fully secured truck court, 36-foot clearance height, and parking to accommodate 64 trailers and 183 autos. The property is currently 100 percent occupied by a leading Los Angeles-based third-party logistics company.
Media Contact:
Leanne Daly
PR & Communications Specialist | Southwest
Leanne.Daly@colliers.com
760-930-7941
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.3 billion ($3.6 billion including affiliates) and $45 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.