IE Business Daily Business news for the Inland Empire.
Two industrial buildings in Ontario have been sold for $142 million.
Stockbridge, a San Francisco-based real estate investment management firm, recently bought the freestanding buildings at 3351 E. Philadelphia St. and 4450 E. Lowell St., according to a statement.
Both structures are 100 percent leased.
Cushman & Wakefield represented the seller, Principal Asset ManagementSM.
“Stockbridge has acquired an institutional-quality industrial portfolio with a phenomenal infill location combined with strong tenancy and premium distribution features and functionality,” said Jeff Chiate, executive vice chair with Cushman & Wakefield, in the statement. “Both properties have maintained a historical occupancy of 100 percent for nearly a decade speaking to the tenant demand for industrial buildings of this quality and location,”
