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Corona Lakeside Logistics Center Sold In Largest Transfer In Inland Empire History

Property Image
SOLD
$325,000,000
Kenny Patricia
Richard Schwartz
Michael Kendall
+ 2

California

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Industrial730,000 SF
Sold 05/01/2023
the dealplayerscompscontact
Property Image
SOLD

Corona Lakeside Logistics Center Sold In Largest Transfer In Inland Empire History

1501 Sherborn St Corona, CA 92879, USA

See Similar Deals
Industrial730,000 SF
Sold 05/01/2023
Kenny Patricia
Richard Schwartz
Michael Kendall
+ 2
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$445
Total Square Footage:730,000 SF
Transaction Type:Sale

The Corona Lakeside Logistics Center, a ±730,000 square-foot industrial portfolio located at 1501 Sherborn St in Corona, CA 92879, has been sold for nearly $325 million. This Class A logistics campus, consisting of five buildings, was acquired by a foreign-based institution from Kearny Real Estate Company. The transaction marks the largest ground-lease ownership transfer in the Inland Empire history, as well as one of the largest in Southern California.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $325,000,000
  • Units: ~
  • Price per Unit: Infinity
  • Square Footage: 0
  • Price per Square Foot: Infinity

Colliers facilitated the sale of the Corona Lakeside Logistics Center on behalf of the seller, Kearny Real Estate Company. The buyer was represented by their own broker, and there were no other brokers involved in the transaction.

Players

Gian Bruno
Colliers
Gian Bruno
22 deals$2.3B volume(949) 724-5511
BROKER
Joey Reaume
Colliers
Joey Reaume
4 deals$382.8M volume
BROKER
Michael Kendall
Colliers
Michael Kendall
21 deals$2.3B volume
BROKER
Richard Schwartz
Colliers
Richard Schwartz
6 deals$441.7M volume
BROKER
Kenny Patricia
Colliers
Kenny Patricia
18 deals$2.3B volume
BROKER

Details

SOLD
IMAGE: 2023-05-01 ADDRESS: 1501 Sherborn St Corona, CA 92879, USA MARKET: ASSET TYPE: Industrial BUYER: SELLER: BUYER'S REP: SELLER'S REP: BROKERS: SALE PRICE: 325000000.0 UNITS: ~ PPU: Infinity$ SF: 0 PPSF: Infinity$ NOTE: Colliers announced the sale of Corona Lakeside Logistics Center, a ±730,000 square-foot industrial portfolio in Riverside County's Inland Empire submarket, for nearly $325 million. The buyer, a foreign-based institution, acquired the five-building Class A logistics campus from Kearny Real Estate Company, marking the largest ground-lease ownership transfer in Inland Empire history and one of the largest in Southern California.

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