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GLP Capital Acquires Perris Industrial Facility for $90M
Inland Empire industrial assets remain a hot commodity, as Colliers has brokered the $90 million sale of 251 East Rider Street, a 355,000 square foot, Class A industrial property in Perris, CA. GLP Capital Partners acquired the building, currently 100% occupied by a Los Angeles-based third-party logistics company.
The Colliers team of Michael Kendall, Gian Bruno, Kenny Patricia, Mark Zorn and Cory Whitman exclusively listed the property for the undisclosed seller. “As the Inland Empire continues to to be perceived as a haven in this turbulent capital markets environment, investors seek to acquire properties with an attractive basis and a good market-to-market profile,” said Kendall. “This was a strategic investment with seamless execution, and we are thrilled with the successful result for both parties.”
Built in 2019, the facility is situated on 16 acres with features that include a 36’ clear height, 47 dock-high doors, a fully-secured truck court and parking for 64 trailers and 183 autos.
- ◦Sale/Acquisition
