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Brookfield Acquires New Shopoff JV Logistics Center

Brookfield Acquires New Shopoff JV Logistics Center

Shopoff Realty Investments and JV partner Artemis Real Estate Partners have sold their recently developed, 1.8 million-square-foot logistics center in Cherry Valley, CA to a Brookfield Asset Management real estate fund for a reported $300 million. Brookfield Properties, represented by CBRE, has leased the building to an e-commerce retailer with plans to make it a national distribution hub.

“This project has helped to create hundreds of construction jobs, as well as an anticipated 1,000 permanent jobs at the facility itself,” said Shopoff CEO William Shopoff. “Our team was dedicated to making this project a positive addition to the community while also filling a major void in this trade thoroughfare for additional logistics space.”

The development team incorporated rural characteristics into the design of the complex to screen the buildings. The project features solar panels, a recycled water system for landscaping and the JV also made significant upgrades to the nearby I-10 interchange at Cherry Valley Boulevard.


Inside The Story

Shopoff Realty InvestmentsArtemis Real Estate PartnersBrookfield PropertiesCBREWilliam Shopoff

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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