ASB Real Estate Investments has acquired a 1-million-square-foot class-A distribution facility in Riverside for $123 million from Washington Capital Management, Inc. The property was purchased through ASB’s $7.6 billion Allegiance Real Estate Fund, a core investment vehicle.

Developed by Trammell Crow, the property features ultra-high 37-foot clear ceilings, cross docking with 143 dock-high doors and 195 trailer stalls. It is 100% leased on a long-term basis.

ASB has been targeting major distribution markets. In the last 12 months, it has acquired 4.5 million square feet of industrial, totaling more than $494 million.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Inland Empire
Industrial
Net Lease
Capital Markets