9/22/2008

California industrial building sells for $20.4M

by Eric Ramsden
Oakmont Redlands Palmetto Ave., LLC, has sold a 266,850-square-foot industrial building in Redlands, Calif., for $20.4 million to a private investor.

The buyer was represented in the transaction by Stephen Calhoun of Colliers International.

The industrial property sold for $76.44 per square foot and is located at 26940 Palmetto Ave. It was vacant at the time of sale and Colliers is currently marketing the space for lease to big-box industrial users.

Address: 26940 Palmetto Ave., Redlands, Calif.

Size: 266,850 square feet

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Filed Under: Industrial

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