Another industrial property has recently traded hands in the Inland Empire. An entity affiliated with Li Yang purchased a distribution facility in Perris for $12.47 million, or $288 per square foot, according to Vizzda records. The property was acquired with $5 million in new lending from Global One Bank from an entity affiliated with Encino-based firm Silagi Development & Management.
The asset is situated at the southeast corner of Perris Boulevard and Commerce Drive. Records indicate that the 2.58-acre site was developed in 2023 with a 43,300 square foot distribution facility. The building features seven dock-high doors, and 63 parking spaces are also a feature of the site.
Perris is home to a number of industrial properties that have traded in recent months.
One such deal involved a 799,522 square foot industrial property occupied by The Home Depot. That property, which is located at 400 E Ellis Ave. on about 53 acres, was sold by an entity affiliated with IDI Logistics for $183.86 million, or $230 per square foot. The buyer was an entity affiliated with Blackstone.
Another recent deal involved a 61,713 square foot industrial asset situated at 23711 Rider St. just off Interstate 215. The property was sold for $17.5 million, or about $283 per square foot, by an entity tracing to WP Carey Inc. The buyer in the transaction, which was also the occupant of the site, was JM Eagle.
