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Avison Young Brokers $59M Purchase of Perris Industrial Building
Ares Management, a global alternative investment manager, has acquired 100 Walnut Avenue, a 206,000-square-foot industrial building in Perris, CA. Avison Young’s Cody Lerner in the firm’s Inland Empire office, represented the buyer, while the seller, 100 Walnut, LLC, was represented by Carol Taubman of Westgate Industrial Properties in the $59.275 million deal.
“Timing is everything, which was the case for this transaction,” said Lerner in a news release. “Given the uncertainty in the market, the seller chose to dispose of the asset at a strategic time prior to the end of the year. Our client recognized the attractive quality and strategic location of this asset and was able to move swiftly. This aligned investment timing allowed for a beneficial situation for both parties.”
Fully leased to GPA Logistics and just recently constructed, 100 Walnut Avenue is situated on 9.5 acres and includes a 36’ clear height, 27 dock doors and 1,200 amps of power.
Image courtesy of The Drone Project, Joseph Aguilar
- ◦Sale/Acquisition
