Clarion Partners and EBS Realty Partners recently acquired a 19-acre industrial site in Colton, California for $61 million. CBRE’s Darla Longo, Barbara Perrier and Eric Cox represented the seller Hager Pacific Properties of Newport Beach. The property is located at 275 and 375 De Berry St., featuring two vacant industrial buildings plus an empty lot approved for construction of a 412,000 square-foot warehouse that could be completed as early as Q3 2024. It is adjacent to I-215 connecting Colton with the rest of the Inland Empire region.
Longo noted that this project provided buyers with “an incredible opportunity to acquire one of the very few assets outside [the] warehouse development moratorium” in said area due to its “truly irreplaceable distribution location” which attracted many competitive offers from interested parties.
