{"id":1004128062,"date":"2015-09-24T05:41:06","date_gmt":"2015-09-24T13:41:06","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=361772"},"modified":"2020-04-16T00:48:41","modified_gmt":"2020-04-16T08:48:41","slug":"cress-capital-expands-in-socals-inland-empire","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cress-capital-expands-in-socals-inland-empire\/","title":{"rendered":"Cress Capital Expands in SoCal\u2019s Inland Empire"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

In an off-market transaction, Newport Beach-based investor Cress Capital LLC has expanded its SoCal portfolio with the acquisition of a 30-acre property encompassing two industrial buildings totaling 310,000 square feet, as well as a 10-acre excess land parcel.<\/p>\n

\"3411<\/a><\/p>\n

3411 N. Perris Blvd. in Perris, Calif.<\/p>\n<\/div>\n

The entity purchased the assets in conjunction with PacVentures Inc<\/a>.<\/a><\/strong> for approximately $11.3 million. The transaction was negotiated directly between Cress Capital and the seller.<\/p>\n

Located at 3411 N. Perris Blvd. in Perris, Calif., each of the two buildings are occupied by a single tenant on a long term lease.<\/p>\n

The vacancy rate across the Inland Empire industrial market is currently under five percent.\u00a0 Furthermore, during the last several years, the area surrounding the property has expanded rapidly with numerous Fortune 500 companies such as Home Depot, Procter & Gamble and Amazon driving absorption.<\/p>\n

The HFF<\/a> \u00a0team led by Senior Managing Director Wally Reid and Associate Director Jeff Sause arranged debt financing for Cress Capital\u2019s acquisition.<\/p>\n

\u201cThis investment underscores Cress Capital\u2019s value-oriented approach and ability to source off-market transactions in an increasingly competitive market,\u201d Ryan Parkin, managing partner with Cress Capital, said in prepared remarks. \u201cWe believe that strong risk-adjusted returns are achieved through special situations and assets with attributes that limit the buyer pool.\u201d<\/p>\n

Photo credits: Cress Capital<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Industrial property and land in this rapidly maturing submarket changes ownership.<\/p>\n","protected":false},"author":260,"featured_media":1004507299,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[682],"class_list":["post-1004128062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-los-angeles","category-latest","tag-news"],"acf":[],"yoast_head":"\nCress Capital Expands in SoCal\u2019s Inland Empire - 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\/cress-capital-expands-in-socals-inland-empire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cress Capital Expands in SoCal\u2019s Inland Empire\" \/>\n<meta property=\"og:description\" content=\"Industrial property and land in this rapidly maturing submarket changes ownership.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cress-capital-expands-in-socals-inland-empire\/\" \/>\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=\"2015-09-24T13:41:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-16T08:48:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/3411-N.-Perris-Blvd.-in-Perris-Calif..jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cress-capital-expands-in-socals-inland-empire\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cress-capital-expands-in-socals-inland-empire\/\",\"name\":\"Cress Capital Expands in SoCal\u2019s Inland Empire - 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She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. 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