September 14, 2016 Comments Off on AFL-CIO Acquires Industrial Asset for $29M Views: 424 California News, Los Angeles, West

AFL-CIO Acquires Industrial Asset for $29M

The AFL-CIO Building Investment Trust acquired a roughly 168,000-square-foot industrial building in City of Industry, CA from Newport Beach, CA-based CT Realty Partners for $29 million. The transaction ranks as one of the largest deals in the San Gabriel Valley this year, and was purchased at a 4.45% cap rate.

The newly-built asset is fully leased to Wayfair, a publicly traded e-commerce company, through October 2021.

CBRE’s Barbara Emmons and Darla Longo facilitated the sale. AFL-CIO was advised by PNC Realty Investors, Inc.

Emmons says, “The need for industrial space is greatly driven by the ever-increasing importance of e-commerce, especially in major logistical markets. Demand for these types of properties will only go up.”

Connect with CBRE’s Emmons

Connect with CT Realty

For comments, questions or concerns, please contact Dennis Kaiser

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