TA Realty Purchases Two Inland Empire Warehouses for $133.5M
CITY OF INDUSTRY AND CORONA, CALIF. — TA Realty has purchased two industrial buildings in City of Industry and Corona for $133.5 million. JCS Properties sold the assets, which are both located in the Inland Empire region of Southern California.
According to Stream Realty Partners, which brokered the deal, the West Inland Empire industrial market comprises more than 334 million rentable square feet of industrial space. The market experienced 6 million rentable square feet of positive gross absorption in the second quarter of 2022. Vacancy remains at an all-time low of 0.38 percent.
The City of Industry property, located at 120 Puente Ave., spans 253,670 square feet. The fully leased building features refrigeration rooms and a third-story office space with a training room, full kitchen and bar area for both clients and employees.
The Corona property, located at 451 Cota St., totals 140,276 square feet. The facility features 11 dock doors, three drive-in bays and 160 parking spaces. The two-tenant building was 43 percent occupied at the time of escrow.
Stefan Pastor and Brad Yates of Stream Realty Partners represented TA Realty in the transaction.
Real estate investment firm TA Realty has acquired, invested in or managed more than $36 billion of real estate on behalf of its clients since its founding in 1982. Headquartered in Boston, the firm maintains additional offices in Newport Beach, Calif.; Palm Beach Gardens, Fla.; and Dallas.
— Kristin Hiller