Cabot Properties Pays $77M for SoCal Logistics Center
By Greg Cornfield August 15, 2024 2:55 pm
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A fully leased industrial facility in Southern California’s Inland Empire has traded hands, bringing fresh activity to a tempered market.
Colliers (CIGI) announced Thursday that Cabot Properties put down $76.8 million to acquire the Almeria Logistics Center, a 236,129-square-foot Class A building in Fontana, Calif. Transwestern Development Company built and sold the building at 8300 Almeria Avenue, which is leased through 2027 to LC Logistics Services.
The deal comes as the Inland Empire has cooled off and investment sales have declined from the action-packed post-pandemic years.
“Despite recent headwinds, we remain convicted in the strength of the Inland Empire and the broader Southern California market,” Chelsea Tamuk Levane, director of investment properties for Cabot, said in a statement.
Colliers’ Michael Kendall, Gian Bruno, Kenny Patricia, Kylie Jones, Thomas Taylor, Steve Bellitti, Joey Jones and Scott Sanders facilitated the sale.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
