Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), has acquired an industrial outdoor storage (IOS) facility located in Southern California for approximately $92 million. The property is subject to a long-term absolute triple net lease with Oldcastle Infrastructure, a subsidiary of CRH plc, the world’s largest building materials company.
“This acquisition exemplifies MSREI’s strategy of sourcing and securing institutional-quality net lease investments in core logistics markets. The IOS facility is a mission-critical asset for Oldcastle and a cornerstone for regional infrastructure supply. We are excited to partner with them to support their long-term operational needs in Southern California,” said Will Milam, head of U.S. investments at Morgan Stanley Real Estate Investing.
Located in Fontana, Calif.’s Southwest Industrial Park, the 26-acre parcel is unique in scale, with virtually no compar
