Blackstone Sells Portfolio of Inland Empire Warehouses to Cabot Properties

Private equity giant Blackstone sold a portfolio of four Inland Empire warehouses totaling 670,000 square feet to Cabot Properties for $202 million. The properties were fully leased with an average weighted lease term of 3.6 years remaining. Two properties were located in Ontario, one in Fontana and one in San Bernardino.

“We are thrilled to expand our footprint in the Inland Empire with the acquisition of these four assets. Having previously owned three of the buildings in the portfolio, our familiarity with the buildings and tenants gave us an excellent foundation for executing on this opportunity,” said Chelsea Tamuk Levane, director of investments at Cabot Properties.

Colliers’ West industrial capital markets team, comprised of Michael Kendall, Gian Bruno, Kenny Patricia and Kylie Jones, in partnership with Thomas Taylor, Steve Bellitti and Joey Jones, marketed the property and represented the buyer.