Los Angeles, Calif. – 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.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 63 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.6 billion and $92 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
