I-215 Commerce Center Provides ZAAM With Long-Term Cash Flow
Delivered in 2021 by Transwestern Development Company, I-215 Commerce Center, a 225,353-square-foot industrial building at 1648 Ashley Way in Colton, CA, recently sold to an investor advised by New York-based Zurich Alternative Asset Management (ZAAM). Situated in the Inland Empire East submarket, the property was 100 percent leased at the time of sale.
“Located in one of the most active industrial markets in the U.S., I-215 Commerce Center was positioned to meet TIG’s investment objectives due to its flexible building design and the unwavering strength of the region’s leasing and capital markets activity,” said Ryan Grable, vice president at Transwestern Investment Group (TIG). “High leasing volumes in the Inland Empire coupled with rising replacement cost created the optimal conditions for TIG to sell the asset and will provide Zurich Alternative Asset Management the opportunity for long-term cash flow.”
CBRE’s Darla Longo, Barbara Perrier and the National Partners West team represented TIG in the transaction. ZAAM was represented by Chris Edgar, director of acquisitions at ZAAM, and Sean Bannon, managing director and head of U.S. real estate at ZAAM. Transwestern Real Estate Services provided asset services and CBRE provided leasing services for the property.
“The combination of asset quality, dynamic market and tenancy made this a very attractive investment for us,” added Edgar.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.