New York Life Insurance Acquires 272K SF Industrial Property In Bloomington For $84.2M

New York Life Insurance has acquired a 272,120-square-foot industrial property located at 3350 Enterprise Drive in Bloomington, California. The property, situated on approximately 13 acres of land, was purchased from TA Realty for a total of $84.2 million at a price per square foot of $309. The transaction took place on June 23, 2023. The industrial property is currently occupied by Cooper Lighting Solutions and is strategically positioned in an industrial area near major companies such as Amazon and FedEx.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $84,200,000
• Address: 3350 Enterprise Drive
• Market: Bloomington
• Acres: 13
• Buyer: New York Life Insurance
• Seller: TA Realty
• Square Footage: 272,120
• Price per Square Foot: $309

This acquisition by New York Life Insurance expands their portfolio with a notable industrial property in Bloomington. The deal signifies their investment in the growing industrial sector in California and highlights the strategic location of the property near key players in the e-commerce and logistics industries.