JLL facilitates sale of core warehouse asset, which is long-term leased to pharmaceutical giant Cencora
JLL Capital Markets has announced, on behalf of REDA and a commingled fund managed by Clarion Partners, the sale of 11119 Juniper Ave., a state-of-the-art, 436,424-square-foot, newly constructed Class A distribution center in Fontana. The building is leased long-term to Cencora (formerly AmerisourceBergen Drug Corporation).
The JLL Investment Advisory team was led by senior managing director Patrick Nally, director Makenna Peter and senior director Evan Moran. The JLL Markets leasing team included managing director Cody Clayton and vice chairman Patrick Wood. JLL’s Debt Advisory team, which financed the acquisition on behalf of the buyer, is comprised of senior managing director Bruce Ganong, senior director Peter Thompson and director Taylor Gimian.
The successful transaction represents the culmination of JLL’s long-term strategic involvement in the project. JLL’s Inland Empire Markets leasing team orchestrated the initial land sale to REDA and their capital partner, who subsequently navigated the site through a difficult entitlement process. The JLL leasing team secured Cencora as the primary tenant, and in the final phase of the project, the JLL Capital Markets team executed the sale, bringing this multifaceted project to a successful conclusion.
Information sourced from JLL. To learn more, visit JLL.com.
