Industrial Property Trust Buys Alessandro Business Center in Riverside for $51.6M

by Nellie Day

RIVERSIDE, CALIF. — Industrial Property Trust has acquired Alessandro Business Center, a 582,000-square-foot industrial facility in Riverside, for $51.6 million. The facility is located at 7295 San Gorgonio Drive.

Ascena Retail Group fully occupies the institutional-quality center. Jeff Chiate, Jeff Cole and Chuck Belden of Cushman & Wakefield, along with James Panting of Commercial Realty Advisors, represented the seller, Western Realco/Cigna, in this transaction.

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