California + Inland Empire + Industrial | May 1, 2023

Colliers arranged the $325-million sale of Corona Lakeside Logistics Center, the largest ground-lease ownership transfer in Inland Empire history

Corona Industrial Complex Trades in Inland Empire’s Largest Ground-Lease Transfer

Colliers closed the sale of Corona Lakeside Logistics Center, a 730,000-square-foot industrial portfolio in Corona, within Riverside County. The five-building industrial logistics center sold for nearly $325,000,000 in what is believed to be the largest ground-lease ownership transfer in the history of the Inland Empire and one of the largest ever in Southern California.

The buyer, a large foreign-based institution, acquired the five-building campus from developer Kearny Real Estate Company. Colliers’ Michael Kendall, Richard Schwartz, Gian Bruno, Joey Reaume and Kenny Patricia facilitated the deal for both parties.

“Kearny built a best-in-class industrial development at the Inland Empire bullseye that is the I-15/CA-91 interchange,” said Kendall. “The buyer, one of the most active investors in Southern California industrial real estate over the past 18 months, recognized the intrinsic value of this development and is thrilled to be adding it to their growing portfolio of Class A properties.”

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Inside The Story

Colliers' Kendall

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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