The investors have hired Los Angeles-based Secured Capital Corp. to market the portfolio, with CB Richard Ellis assisting in the marketing and underwriting process. Properties in CalEast's joint venture with Oak Brook-based CenterPoint Properties Trust is not included in the offering, according to a spokesperson for the investors.

No listing price will be set for the properties, which for now, remain undisclosed. However, the portfolio offers public and private investors low volatility and stable investment returns, CalEast Industrial Investors chief executive officer Russ Blackwell suggests. "Over the past several years, investors have encountered significant obstacles to making direct and sizable investments in industrial real estate at attractive valuations, particularly given the sector's low per-square-foot costs relative to other property types and the large capital flowing into public industrial REITS," he adds.

The portfolio has been assembled during Columbus, OH-based CalEast Industrial Investors' seven-year tenure. "The CalEast industrial portfolio is among the finest in the country," claims CalPERS portfolio manager Jose McNeill.