TA Realty Snags Two Warehouses for $133.5M in Off-Market Deal
Stream Realty Partners has assisted TA Realty in the acquisition of 120 Puente Ave. and 451 N. Cota St. for $133.5 million. The industrial properties, located in The City of Industry, CA and Corona, CA respectively, were purchased from JCS Properties.
“This was a unique portfolio sale in that the two buildings had staggered closing dates with their own unique challenges. Both sides were able to work together toward a mutually beneficial closing solution,” said Stream’s Stefan Pastor who represented the buyer along with the firm’s Brad Yates.
The 100% occupied City of Industry property is 254,000 square feet with several Class-A amenities including a refrigeration room and third story office space. It sold for $92 million. The 140,000-square-foot Corona warehouse (pictured) features a large truck court along with 11 dock doors, three drive-in bays and is 43% occupied. It sold for $41.5 million.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.