New York Life Gets Real in Rialto

New York Life Real Estate Investors has purchased a 609,888-square-foot industrial property in the Inland Empire town of Rialto.

CapRock Partners developed the asset, and will continue to manage the building. Jon Pharris, president of CapRock Partners, said that the Class A industrial property will be attractive to those companies looking for warehouse space in the area.

Chris Hunt, senior director at New York Life Real Estate Investors, said the Rialto site would add to the high-quality investments in its Madison Core Property Fund.