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Orbis Divests Inland Empire Development Sites for $140M
Newport Beach-based Orbis Real Estate Partners divested two landmark Inland Empire industrial projects for $140 million. The deals encompass roughly 88.5 acres of prime development land.
The larger of the transactions involved The Homestead, which comprises 47 acres in Eastvale (pictured). Reno-based Dermody Properties purchased the site for $95 million and will develop six Class A industrial warehouse buildings totaling 1.05 million square feet that Orbis designed, entitled and delivered ready for construction.
Orbis’ Tom Money says, “The Homestead transaction represents one of the largest industrial land deals in the region.”
The second deal involved Riverside Logistics Center in Riverside County, which encompasses 41.5 acres and 938,685 square feet of industrial space, that was sold for $45 million. Denver-based Black Creek Group acquired the property, which Orbis delivered designed, entitled and permit-ready.
Lee & Associates’ Bill Heim, along with CBRE’s Barbara Perrier, Eric Cox and Darla Longo represented Orbis in both transactions.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition


