IE Business Daily Business news for the Inland Empire.
Padma Laxi, an industrial owner-occupier, has bought a 201,345-square-foot industrial building in Corona.
The company paid $20 million for the structure at 1560 E. 6th St., according to a report in globest.com, an online real estate publication.
CT Realty, operating as CT Corona Partners I, was the seller. Padma Laxi plans to occupy most of the building and lease what it doesn’t use, according to the report.
Lee & Associates Riverside represented the seller, with an assist from CBRE Group Inc. Lee & Associates Newport Beach represented the buyer.
The LEED-certified building, which finished construction last year, is on a 26-acre site at Magnolia Avenue and Sixth Street. It’s part of a four-building, 528,000-square-foot industrial park that CT Realty developed.
Earlier this year, CT Realty sold one of those buildings, at 1575 Magnolia Ave., to Developlus Inc. for $15 million, according to the report.
