Colliers closed the sale of Corona Lakeside Logistics Center, a 730,000-square-foot industrial portfolio located in Riverside County’s Corona. The five-building campus sold for nearly $325 million, making it one of the largest ground lease ownership transfers ever seen in Southern California and believed to be the largest ever recorded in Inland Empire history.
The buyer was a large foreign institution that acquired this best-in-class industrial development from developer Kearny Real Estate Company at an ideal location – I15/CA91 interchange. Colliers’ Michael Kendall, Richard Schwartz, Gian Bruno Joey Reaume and Kenny Patricia facilitated negotiations between both parties with great success. Kendall commented on how “the buyer recognized the intrinsic value of this development and is thrilled to be adding it to their growing portfolio of Class A properties”
This transaction serves as an example that CRE Leaders like Skanska Executive Vice President Clare De Briere can provide valuable insight into real estate investments during events such as Connect LA on May 3rd at Hotel Indigo .
