October 12, 2021
los angeles – Transwestern Investment Group (TIG®) announces the sale of I-215 Commerce Center, a 225,353-square-foot industrial building at 1648 Ashley Way in Colton, California. Situated in the popular Inland Empire East submarket, the property was 100% leased at the time of sale to an investor advised by New York-based Zurich Alternative Asset Management (ZAAM).
“Located in one of the most active industrial markets in the U.S., I-215 Commerce Center was positioned to meet TIG’s investment objectives due to its flexible building design and the unwavering strength of the region’s leasing and capital markets activity,” said Ryan Grable, Vice President at TIG. “High leasing volumes in the Inland Empire coupled with rising replacement cost, created the optimal conditions for TIG to sell the asset and will provide Zurich Alternative Asset Management the opportunity for long-term cash flow.”
Delivered in 2021 by Transwestern Development Company, I-215 Commerce Center features 32-foot clear heights, 28 dock-high loading doors, ESFR sprinkler system, 156 auto parking stalls and 33 trailer parking stalls. The property offers frontage facing Interstate 215 and is in proximity to Interstate 10 and Routes 60 and 91.
“Zurich is pleased to acquire I-215 for our third-party investors and seek to identify more of these types of opportunities for our balance sheet and third-party clients,” said Sean Bannon, Managing Director and Head of U.S. Real Estate at ZAAM. “The combination of asset quality, dynamic market and tenancy made this a very attractive investment for us,” added Chris Edgar, Director of Acquisitions at ZAAM.
CBRE’s Darla Longo, Barbara Perrier and the National Partners West team represented TIG in the transaction. ZAAM was represented by Chris Edgar and Sean Bannon. Transwestern Real Estate Services provided Asset Services and CBRE provided leasing services for the property.
Photography is available for download here.
About Transwestern Development Company
Transwestern Development Company (TDC®) creates value through the execution of development projects for itself, its partners and valued clients throughout the United States. Part of the Transwestern companies, the diversified business develops logistics, multifamily, office, mixed-use and healthcare properties, with a pipeline of projects in process or completed since 2012 exceeding $7.1 billion.
About Zurich Alternative Asset Management
Zurich Alternative Asset Management (“ZAAM) runs a national core and core-plus investment program out of New York which targets office, retail, industrial and multi-family properties and has directly acquired approximately $2 billion of assets since 2013. ZAAM also manages non-core, value-added assets aggregating just under $1 billion. ZAAM recently raised approximately $500 million of international equity for investment in a core and core plus program in a new open-ended fund, and continues to add to its portfolio under management, which spans across 26 states aggregating more than 15 million square feet of commercial real estate space and more than 1,400 multifamily units.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $6.3 billion of assets managed since inception. The firm serves a broad range of institutional and high-net-worth clients with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.