Clarion Acquires Chino Industrial Portfolio

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.