Industrial portfolio sells for $104 million
A four-property industrial portfolio on the west end of the Inland Empire has been sold.
Three of the buildings – at 11600 Millennium Court, 8250 Milliken Avenue, and 9160 Buffalo Avenue – are in Rancho Cucamonga, according to a statement released by CBRE.
The fourth site, at 4850 E. Airport Drive, is in Ontario.
All four properties combined sold for $104.6 million. The transaction closed in late June.
The buildings are all fully occupied. Tenants include Green Inc., ConAgra Foods Inc., Carpenter Technology Corp. and THMX Holdings LLC.
CBRE represented the seller, Colony Capital Inc, a global real estate and investment management firm. The buyer, Lincoln Property Co., an international commercial and residential real estate firm based in Dallas, represented itself.
“We marketed the portfolio as a whole, and we offered the ability to bid on each building individually,” said Barbara Perrier, CBRE vice chair, in the statement. “Ultimately, we sold it as one due to the strength of the entire portfolio.”