GLP Capital Partners Acquires Industrial Property In Jurupa Valley For $125.5M

GLP Capital Partners has purchased a 329,831 square-foot distribution center located at 4345 Parkhurst Street in Jurupa Valley, California. The industrial property was acquired from the State Teachers Retirement System of Ohio for a total of $125.5 million. This transaction marks one of GLP Capital Partners' recent acquisitions in the Inland Empire market.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $125,500,000
• Square footage: 329,831
• Address: 4345 Parkhurst Street, Jurupa Valley, California
• Market: Jurupa Valley

The buyer, GLP Capital Partners, led by Alan Yang, saw potential in this distribution center, currently utilized by Petco. Despite slight increases in vacancy rates, the rental rates in the Inland Empire market have been on the rise. This purchase further solidifies GLP Capital Partners' presence in the region and demonstrates their confidence in the local market.