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With a FedEx Ground hub onsite and near a UPS ground hub, Wonderful Industrial Park's location has access to 14% of the US population within 300 miles and same-day delivery to 30 million Californians.
The state's population growth and geographic advantages of being in the center of the Sunbelt and sharing a border with Mexico make it an obvious location for distribution networks and investor interest as a result.
The transaction through an IPC subsidiary on behalf of its 1031 investment programs, marked the final disposition across three separate 1031 investment programs that consisted of four Mariano's Fresh Market locations in the Chicago area—Palatine, Vernon Hills, Elmhurst and Arlington Heights.
The three-building industrial portfolio totaling 500,081 square feet is located in the Green Bay, WI and Northeastern Pennsylvania MSAs and are all 100% leased to Progressive Converting, Inc.