October 18, 2017 Comments Off on RREEF America Picks Up Industrial Park for $27M Views: 964 California News, Inland Empire

RREEF America Picks Up Industrial Park for $27M

There is still time to register for Connect Inland Empire. Here’s where to register for the October 18th conference.

RREEF America, LLC acquired Fortune Business Park, a 157,904-square-foot multi-tenant industrial park in City of Industry, CA from Columbia California Valley Industrial, LLC. for $27.15 million.

Comprising seven buildings spread over more than seven acres, Fortune Business Park is fully leased to 12 tenants. The property occupies a sought-after in-fill location outside of Los Angeles, and provides tenants with access to the 605 and 10 freeways.

JLL’s Bo Mills, Mark Detmer and Ryan Sitov led the sales team.

Mills says, “This was an excellent opportunity to invest in a large business park developed after 2005 – a rarity for Los Angeles in-fill assets, that provided immediate upside potential by lifting rents to current market value.

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