CIP REAL ESTATE ACQUIRES 188,000-SF INDUSTRIAL PORTFOLIO

IRVINE, CALIF. – CIP Real Estate has acquired an 188,000-square-foot multi-tenant industrial portfolio for $14 million. The portfolio includes the six-building, 150,000-square-foot Indiana Business Park in Riverside; the 16,000-square-foot Cerritos Industrial Park in Cerritos and the 22,000-square-foot Parkway La Mirada in La Mirada. CIP purchased the portfolio from Union Development Company. The deal included the assumption of an existing conduit loan.