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Sign in Sign up for a FREE subscriptionKorean Investor pays $520m for industrial portfolio
South Korea–based Mirae Asset Global Investments has paid $520 million for eight industrial assets totaling some 1.2 million square feet in cities across California and Utah.
Greenlaw Partners sold the California properties, while Gardner Batt divested the Utah assets.
Amazon has triple-net-leased the properties. The four assets closed in California's Inland Empire include a 94,000-square-foot facility in Bakersfield, a 112,000-square-foot facility in Riverside, a 126,000-square-foot facility in Victorville and a 122,000-square-foot facility in Cathedral City. And the two assets in Utah are a 146,914-square-foot property in American Fork, and a 201,096-square-foot asset in North Salt Lake City.
According to Newmark Research, industrial remains the top-performing property type in U.S. commercial real estate. Investment volume increased by 55.6 percent year-over-year t
