IE Business Daily Business news for the Inland Empire.
A 205,589-square-foot industrial building in Perris has been sold.
The structure at 100 W. Walnut Ave. sold for $59.2 million, according to Avison Young Ontario.
Avison Young represented the buyer, a fund managed by Ares Management, a global alternative investment manager.
The seller, an investment group called 100 Walnut, LLC., was represented by Westgate Industrial Properties in Los Angeles.
The building is leased to GPA Logistics, a third-party logistics company with facilities in Ontario, Fontana, and Edison, N.J.
GPA Logistics provides multiple services, including warehouse management, retail packaging, air freight forwarding, and logistics consulting, according to the company’s website.
The building sits on 9.5 acres and was built earlier this year.
