The Inland Empire has seen a number of industrial properties trade hands in recent months. One property to recently sell in the region is a 28,376 square foot property in Bloomington. According to Vizzda records, the property was acquired by an entity tracing to Seth Hiromura from an entity affiliated with Cherag Patel for $10.5 million. The property was acquired with $3.5 million in assumed debt with Rialto Capital.
The property is located at 3061 S Riverside Ave. and includes two buildings on approximately 5.38 acres. The buildings were built in 1993 and 2016 and are occupied by Cummins Sales and Service, a seller of power generator products.
Situated in Bloomington, the property is surrounded by a number of other industrial properties, with occupants including FedEx, Amazon and others.
Several of the industrial properties in the immediate area have also traded hands recently.
In August, Prologis purchased a 311,363 square foot distribution facility at 3255 Cactus Ave. and 11600 Cactus Ave. for $96.6 million, or approximately $310 per square foot. The property, which is occupied by FedEx, was sold by an entity linked to Gramercy Property Trust, which has been owned by Blackstone since 2018, according to a previous report from The Registry.
Howard Industrial Partners also recently acquired a large industrial site in Bloomington for $30.44 million. The site comprises 29 acres and is located at 18077 Santa Ana Ave. The seller in the transaction is an entity linked to Steve C Na.
