IE Business Daily Business news for the Inland Empire.
A 9.8-acre site in Perris that is the future home of an industrial building has been sold.
The property at the southwest corner of Harley Knox Boulevard and Redlands Avenue next to to Interstate 215 sold for an undisclosed sum, according to Newmark Knight Frank and CBRE, both of whom negotiated the sale.
The buyer was The Carson Companies, a private real estate investment trust in Newport Beach that buys and builds logistical structures. The seller was Circle Development, which has secured all development permits for them project.
Both were represented by CBRE in the transaction, which was announced Friday.
Newmark Knight Frank will market the project, a 211,000-square-foot industrial warehouse that Carson expects to start building this month. The building, near March Air Reserve Base, is expected to be completed by the second quarter of next year.
The Inland Empire industrial market remains strong, with nearly 30 million square feet of space currently under construction in the region, according to Newmark, Knight Frank.
