Los Angeles, CA (July 31, 2014) – Circle Industrial, a real estate private equity firm focused on the acquisition, development and operation of industrial properties in Southern California and other major US markets with high barriers to entry (Circle), acquired an industrial property in Rialto, CA on July 31, 2014. The property consists of two industrial buildings containing approximately 90,000 square feet on 7.1 acres with close proximity to the 10, 210, 215 and 15 freeways.
The property, located at 206 S Lilac Ave, contains 14 dock-high positions and has low site coverage for ample trailer or material storage which is attractive to both logistics and manufacturing users. The site was acquired well below replacement cost, based on the seller’s need to close before a fiscal year-end, which Circle accomplished by closing escrow in less than 30 days. Substantial renovations are underway and the property is currently marketed for sale or lease.
Circle Industrial is a real estate private equity firm focused on the acquisition, development and operation of industrial properties in Southern California as well as other major US markets with high barriers to entry. Circle Industrial is led by former Prologis, Inc. (NYSE: PLD) executives Pat Maloney and Eric Omohundro, who have been working and investing together for years while at Prologis and now at Circle Industrial. www.circle-industrial.com