IE Business Daily Business news for the Inland Empire.
CBRE has negotiated the sale of a 182,630-square-foot industrial building in Colton.
The structure, at 1603 S. La Cadena Drive, is fully occupied and leased to a single-tenant, according to a statement released today.
The buyer was Walton Street Capital, a private equity real estate investment firm in Chicago. The seller, represented by CBRE, was Shubin Nadal & Penwood Real Estate Investment Management in Newport Beach.
The cost of the transaction was not disclosed.
Besides being close to Interstates 215 and 10 and the 60 and 91 freeways, the building is prime property because it has a large yard for storing trailers, said Darla Longo, vice chairman and managing director with CBRE and a member of the negotiating team.
