CIP REAL ESTATE SELLS TWO BUSINESS PARKS FOR $37.25 MILLION

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ONTARIO AND WALNUT, CALIF. — Irvine, Calif.-based CIP Real Estate has completed the disposition of two multi-tenant business parks to CRP-2 Acquisitions LLC, an affiliate of Colony Realty Partners, for a total consideration of $37.25 million. The properties are Miliken Business Center, a 12-building, 157,711-square-foot property in Ontario, and Brea Canyon Business Park, a five-building, 79,839-square-foot park in Walnut. Michael Hefner, Alan Pekarcik and Dan Vittone of Voit Commercial Brokerage represented CIP in the transaction.

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