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Liberty Property Trust buys Calif. logistics asset for $52M

Liberty Property Trust paid $52 million for the 426,302-square-foot I-210 Logistics IV building in Rialto, Calif., Commercial Property Executive reported.

The asset, located at 1543 N. Alder St., sits on a roughly 8.5-acre site, the news outlet added.

The diversified real estate investment trust said in a release that the property, which has been designed to achieve Leadership in Energy and Environmental Design certification, includes nearly 100 parking spaces. It is fully leased to engineering and logistics company CTDI.

The REIT noted plans to break ground on two further buildings in California in the fall, with completion slated for the second quarter of 2019. The projects are the 401,106-square-foot I-10 Valley Logistics Center in Rialto and a 94,911-square-foot building on a five-acre parcel in Ontario, Calif.