IE Business Daily Business news for the Inland Empire.
A 122,000-square-foot industrial park in Jurupa Valley has been sold.
San Diego-based Intersection Equities Inc. paid $19.5 million for Riverside Business Park, which runs parallel to the 60 Freeway near the I-215-91 interchange, according to a statement.
The buyer was a partnership between Intersection and an affiliate of Blue Vista Capital Management, LLC, an investment-management firm based in Chicago.
That affiliate’s name was not disclosed.
Riverside Business Park, which sits on nine acres, is made up of 30 suites that range from 1,500 to 11,000 square feet.
“This is a rare investment opportunity in a market we have been hoping to break into for some time,” said Eric DeWees, Intersection’s senior director of acquisitions, in the statement.
“We are eager to begin executing our business plan and create an exceptional industrial asset on behalf of our new partnership.”
Intersection owns 31 assets in seven western states that combined cover 1.2 million square feet, according to the statement.
