{"id":1004071932,"date":"2013-04-30T07:13:59","date_gmt":"2013-04-30T15:13:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004071932"},"modified":"2022-12-06T01:54:06","modified_gmt":"2022-12-06T09:54:06","slug":"behringer-harvard-ct-realty-sell-inland-empire-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/","title":{"rendered":"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

A joint venture of Behringer Harvard and CT Realty Investors has sold the Interchange Business Center, a 667,024-square-foot industrial asset in Southern California\u2019s Inland Empire. The purchase price and identity of the buyer\u2014described as one of the nation\u2019s largest privately held real estate advisors\u2014were not immediately disclosed.<\/p>\n

Located at 1420-1440 Third St., in San Bernardino, the three buildings sold by Behringer Harvard and CT Realty are situated on a 34-acre site. Interchange Business Center\u2019s fourth property, a multi-tenant office building, was sold last October.<\/p>\n

Behringer Harvard acquired Interchange Business Center in November 2010 through its third joint venture with CT Realty, a real estate investment and development firm based in Aliso Viejo, California.<\/p>\n

\u201cWhen we acquired this asset, we believed that Interchange Business Center represented an attractive opportunity to capitalize on market stress by acquiring Class A industrial space in a recovering market at a significant discount to replacement cost,\u201d Jason Mattox, Behringer Harvard\u2019s COO, told Commercial Property Executive<\/em>. \u201cWe expected this asset to benefit from a strong Inland Empire location and superior quality of construction. We believe this property fulfilled our expectations for upside potential.\u201d<\/p>\n

According to Mattox, the partners had completed their value creation strategy for the asset, which focused primarily on improving occupancy, so this was an opportune time to sell the property and redeploy the proceeds.<\/p>\n

All told, partnerships of Behringer Harvard and CT Realty Investors have acquired and disposed more than 2.4 million square feet of high-quality industrial space in the Inland Empire.<\/p>\n

\u201cThe Behringer Harvard REIT that invested in Interchange Business Center pursues an opportunistic investment strategy,\u201d he said. \u201cCT Realty has been an outstanding business partner and we are pleased with the attractive returns achieved by our joint ventures.\u201d\u00a0 The REIT reaped a 12.7 percent annual average return from the sale of the four buildings at Interchange Business Center.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Behringer Harvard and CT Realty had completed their strategy of increasing occupancy at the property, which the joint venture acquired in 2010.<\/p>\n","protected":false},"author":451,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37774,37775,21748,21783,21742,37776,37777,37778,15],"tags":[],"class_list":["post-1004071932","post","type-post","status-publish","format-standard","hentry","category-rc-dividend-yield","category-rc-forward-affo-payout-ratios","category-industrial","category-investment","category-latest","category-rc-premium-discount-to-nav","category-rc-price-ltm-ffo","category-rc-total-return","category-west"],"acf":[],"yoast_head":"\nBehringer Harvard, CT Realty Sell Inland Empire Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"Behringer Harvard and CT Realty had completed their strategy of increasing occupancy at the property, which the joint venture acquired in 2010.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-04-30T15:13:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T09:54:06+00:00\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset\",\"datePublished\":\"2013-04-30T15:13:59+00:00\",\"dateModified\":\"2022-12-06T09:54:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/\"},\"wordCount\":332,\"commentCount\":0,\"articleSection\":[\"Dividend Yield\",\"Forward AFFO Payout Ratios\",\"Industrial\",\"Investment\",\"News\",\"Premium\\\/Discount to NAV\",\"Price\\\/LTM FFO\",\"Total Return\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/\",\"name\":\"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2013-04-30T15:13:59+00:00\",\"dateModified\":\"2022-12-06T09:54:06+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\",\"name\":\"Keith Loria\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"caption\":\"Keith Loria\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/keith-loria\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/","og_locale":"en_US","og_type":"article","og_title":"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset","og_description":"Behringer Harvard and CT Realty had completed their strategy of increasing occupancy at the property, which the joint venture acquired in 2010.","og_url":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2013-04-30T15:13:59+00:00","article_modified_time":"2022-12-06T09:54:06+00:00","author":"Keith Loria","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/"},"author":{"name":"Keith Loria","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"headline":"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset","datePublished":"2013-04-30T15:13:59+00:00","dateModified":"2022-12-06T09:54:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/"},"wordCount":332,"commentCount":0,"articleSection":["Dividend Yield","Forward AFFO Payout Ratios","Industrial","Investment","News","Premium\/Discount to NAV","Price\/LTM FFO","Total Return","West"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/","name":"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2013-04-30T15:13:59+00:00","dateModified":"2022-12-06T09:54:06+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/behringer-harvard-ct-realty-sell-inland-empire-industrial-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f","name":"Keith Loria","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","caption":"Keith Loria"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004071932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/451"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004071932"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004071932\/revisions"}],"predecessor-version":[{"id":1004611391,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004071932\/revisions\/1004611391"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004071932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004071932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004071932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}