INLAND EMPIRE, CA-Pacific Newport Properties Inc., an Irvine-based developer, has traded a warehouse and distribution facility for $85.3 million. The 1.6-million-square-foot facility, which is situated in the Inland Empire, was sold to an undisclosed institutional buyer.
The facility is part of the company's Mira Loma Distribution Center, a 131-acre development situated east of Los Angeles. Cushman & Wakefield Inc. represented the seller, while the buyer had in-house representation in the transaction. For the full story, go to Orange County Business Journal.
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