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Global Manufacturer Relocates to Riverside
Long Grove, IL-based MAT Holdings Inc. purchased a newly-constructed Class A, 303,100-square-foot industrial building located at 6975 Sycamore Canyon Blvd. in Riverside, CA. The property was sold by Newport Beach, CA-based Investment Building Group for $28.2 million.
MAT Holdings plans to make the facility its West Coast distribution center. The buyer was represented by Chicago area-based Interstate Tenant Advisors, along with Lee & Associates’ Brad Gilmer.
Gilmer says the decision to relocate from its current facility in Santa Fe Springs, CA to a brand-new distribution building in Riverside was driven by a lack of Class A buildings in the LA-OC industrial markets. Coupled with rising prices, it is resulting in an exodus of large distribution companies to the Inland Empire, he notes.
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