|
|||||
|
Friday, May 18, 2012 Office
The California-based Muller Co. has teamed with Connecticut real estate giant GE Real Estate to purchase a 3 million square foot office portfolio of industrial and retail properties in Southern California and Arizona for $460 million. The joint venture purchased the buildings from California's Silagi Development & Management. GE Real Estate invested $120 million in the purchase. CB Richard Ellis represented Silagi Development & Management in the transaction. Approximately 47 percent of the properties are located in Riverside and San Bernadino Counties, while 15 percent of the space is located in Conejo Valley and Ventura Counties. The remainder is spread through the Arizona cities of Scottsdale, Phoenix, Mesa, Sun City and Tucson. The purchase includes the 244,585 square foot Airport Commerce Center in Ontario, Calif., and the 180,753 square foot Redlands Corporate Center 1 in Redlands, Calif. The purchase includes 1.6 million square feet of industrial space built between 1975-2003, 738,813 square feet of office space built between 1982-2006 and 562,839 square feet of retail properties built between 1972-2007. The Muller Co. is based in Orange County. GE Real Estate is based in Connecticut and is a business unit of General Electric Commercial Finance. Address: Various sites in Southern California and Arizona Size: 3 million square feet Built: Between 1972 and 2007 Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
No comments have been posted in the last 15 days! Send us your comments on this article
Related Headlines
|
|
|||||||||||||||||||
|
|||||||||||||||||||
© 2007 crefeed.com. All Rights Reserved.