TA Realty Pays $134M for 2 Inland Empire Assets

JCS Properties sold the facilities in an off-market transaction.

120 Puente Ave.

120 Puente Ave.

TA Realty has purchased two Inland Empire industrial facilities for $133.5 million from JCS Properties. The firm paid $92 million for a 253,670-square-foot complex in City of Industry, Calif., and $41.5 million for a 140,276-square-foot warehouse in Corona, Calif. Stream Realty Partners represented the buyer in the off-market transaction.

The deal immediately follows TA’s $90.5 million acquisition of Green Valley Corporate Park, a 415,107-square-foot industrial campus in Fairfield, Calif. Another recent high-profile transaction in the area was Winsford Corp.’s sale of a 106,088-square-foot warehouse in Ontario, Calif., also brokered by Stream.

READ ALSO: Top 5 Markets for Industrial Construction Activity

Completed in 1988 at 451 N. Cota St., the Corona warehouse has 11 dock doors and three drive-in loading bays. The property was 43 percent leased at the time of sale. JCS had purchased the building in 2021 for $30.2 million, CommercialEdge data shows.

The City of Industry facility came online in 1998 at 120 Puente Ave., featuring a mix of warehousing, cold storage and office space. The property features 140- to 220-foot truck courts and an employee training center, as well as a full on-site kitchen and bar area. Classic Beverage of Southern California is the building’s sole tenant, according to CommercialEdge data.

Both buildings are adjacent to the Riverside Freeway, giving them quick shipping, logistics and transit access to Los Angeles and the Port of Long Beach.

The Stream brokerage team was led by Senior Vice Presidents Stefan Pastor and Brad Yates.

The Inland Empire, king of industrial

The Inland Empire remains both a regional and nationally-ranked industrial powerhouse, posting the nation’s lowest vacancy rate of 0.9 percent, with some 36 million square feet of space in its construction pipeline and a year-to-date transaction volume of $3.2 billion as of August, according to a CommercialEdge report. Due to its location and clientele, the region is also the most expensive for industrial investment and leasing in the U.S., with the per-square-foot sale price clocking in at $336.

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