LOS ANGELES – February 1, 2016 – A fund advised by CBRE Global Investors has acquired 1885 W. Mission Blvd., a Class A, 201,100 square foot, single-tenant logistics facility in Pomona, California.
The newly developed property features state-of-the-art construction with 32-foot clear heights, skylights, 8,000 square feet of two-story office space, ESFR sprinklers, generous parking, 29 dock-high doors, two grade-level doors, and a large and secured truck court. The asset is fully leased to Konica Minolta Business Solutions U.S.A., Inc., an award-winning business technology company that uses the building as its primary distribution center on the West Coast. The facility is part of a two million square foot master-planned project in a prime location close to four major highways that connect the asset to the rest of Southern California. These freeways allow the tenant to easily receive goods from the port and distribute their finished products throughout Southern California and the West Coast.
“The property is centrally located making it an ideal distribution location for companies looking to reach infill Southern California,” said Kim Hourihan, Portfolio Manager, CBRE Global Investors. “Strategically located between the Inland Empire and Los Angeles, Pomona attracts tenants who are priced out of locations closer to the ports while offering lower drayage costs and quicker truck turns than they would get in the Inland Empire.”
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $86.0 billion in assets under management* as of September 30, 2015. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment firm for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.