(Read more on the industrial market.)

CORONA, CA-Master Development Corp. of Newport Beach has acquired two industrial buildings totaling 100,020 sf from Fleetwood Aluminum in a venture with GE Asset Management. The deal, which is the fourth acquisition for the MDC/GE joint venture, expands what is already a significant number of holdings for Master Development in Corona.

The two recently acquired buildings are at 2465 and 2485 Railroad St. The buildings are part of what EVP Bryan Bentrott of Master Development describes as an industrial market that benefits from growth from within its existing 25-million-sf base, expansion from adjacent markets like Chino and Ontario, and relocation from Orange County companies seeking affordable space that is close to their work force.

MDC has constructed 28 buildings in Corona since 2003 and has now turned its attention to value-added acquisitions within the city. This transaction represents MDC's second purchase of an existing building in Corona in 2007 and the firm is evaluating additional investment opportunities.