Jonathan Martin Of AEW Capital Management Acquires Industrial Portfolio In Riverside And Ontario For $110.6M

The property involved in this transaction is a two-building industrial portfolio located at 14600 Innovation Drive and 1001 Doubleday Avenue in the Riverside and Ontario markets. The sale was completed for a price of $110,600,000, encompassing a total of 995,784 square feet, which translates to a price per square foot of $111. The portfolio includes the 601,000 square foot Meridian Distribution Center I in Riverside and a 395,000 square foot facility in Ontario.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $110,600,000
• Buyer: Jonathan Martin - AEW Capital Management
• Seller: Scuderia Development
• Square Footage: 995,784
• Price Per Square Foot: $111

Jonathan Martin, representing AEW Capital Management, leads the acquisition of this industrial portfolio from Scuderia Development. The transaction demonstrates AEW's strategic investment approach in the Inland Empire region, which is characterized by high demand for logistics-oriented properties due to its advantageous proximity to major transportation routes, including highways, airports, and the Port of Los Angeles.