IE Business Daily Business news for the Inland Empire.
A 46,200-square-foot warehouse distribution facility in Indio has been sold for $7.2 million.
The property at 82309 Market St. was purchased by a Los Angeles-based investor who declined to be identified, according to CBRE.
The seller, whom CBRE represented, also wished to remain anonymous.
“This sale underscores the continued investor appetite for high-quality industrial assets in the Coachella Valley market,” said Sammy Cemo, first vice president at CBRE, in a statement, “The property’s tenant profile made this an attractive offering for the buyer.”
The tenant, Signature Party Rentals, recently renewed its lease. Details of that agreement, which Cemo called “long-term,” were not disclosed.
The building sits on two acres and consists of 38,120 square feet of warehouse space and 8,100 square feet of office, according to CBRE.
