July 10, 2015
CT Realty is done selling off assets at Magnolia Point, a Class A industrial redevelopment project in Corona. It bought the 26-acre site in 2013 from Trammel Crow in 2013 and constructed four buildings there totaling 528,000 square feet.
The fourth and final building it sold was a 101,475-square-foot asset that went to Vision Wheel for $10.9 million. In May CT Realty, based in Aliso Viejo, disposed of the largest building, a 201,345-square-foot facility to Amrapur Overseas for $20.1 million.
Earlier this year a 146,000-square-foot building was sold to Developlus for $15.3 million and a 77,660-square-foot asset for $8.7 million to R.W. Brown.
Mark Zehner, director of asset and property management for CT Realty, is looking to buy and redevelop more properties in the Inland Empire.
Meanwhile James “Watty” Watson, the chief executive of CT Realty, will be speaking at Connect Orange County, which is taking place on July 22 in Newport Beach at the Balboa Club.