Skip Ribbon Commands
Skip to main content

News release

LOS ANGELES, CA

Investors Vie for Industrial Presence in Inland Empire

JLL closes $47.5 million sale of Sierra Gateway Center


LOS ANGELES, Nov. 19, 2015 – On behalf of AEW Capital Management, JLL’s Capital Markets experts today announced the firm has closed the sale of Sierra Gateway Center, an institutional-quality warehouse/distribution center located outside of Los Angeles in Fontana, California. Cabot Properties purchased the asset for $47.5 million.  AEW sold the property on behalf of one of its separate account clients.

International Director Peter McWilliams, Managing Directors Mark Detmer, Bo Mills, Michael McCrary and Vice President Jeff Bellitti led the JLL team on the transaction.
 
“The Inland Empire is renowned as the country’s premier distribution hub and the market remains a top target among investors, especially for institutional-quality assets,” said Mills.
 
The 518,810-square-foot property is 100 percent NNN leased to three credit-quality tenants. Sierra Gateway Center is located at 10700-10850 Business Drive in the Inland Empire West market, near the area’s three major interstate highway systems.
 
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
 
For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.