Clarion Partners Real Estate Income Fund (CPREIF) has acquired three warehouse and distribution buildings totaling 110,000 square feet in Chino, CA. The 100% leased properties were marketed by JLL Capital Markets and sold for an undisclosed price.
“We are pleased with this opportunity to add to CPREIF’s industrial holdings in this prominent U.S. distribution hub,” said Clarion Partners Senior VP Janet Souk. “We already oversee a stabilized portfolio of 4.5 million square feet in IE West as the industrial sector in the Inland Empire continues to experience low vacancy rates amid steady demand.”
Built in the late 90’s, the three buildings feature 24’ clear heights, sizable truck courts and ample parking. The Chino market is located in the western portion of the Inland Empire, giving it excellent freeway access and lower transportation costs than other IE markets. Chino also sits just 10 miles from Ontario International Airport.
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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