CBRE Arranges $86M Sale of Class A Industrial Park in Jurupa Valley

CBRE has arranged the sale of Serrano Industrial Park, a three-building industrial park totaling 332,725 square feet in Jurupa Valley, Calif., to Miramar Capital for $86 million.

CBRE National Partners’ Joe Cesta and Darla Longo, along with Erik Wanland represented the seller, PreZero, in the transaction.

"Serrano Industrial Park offers a unique investment opportunity with buildings that meet the current leasing demand and provide above-standard power in the vibrant Inland Empire," said Cesta, executive vice president at CBRE. "Despite broader challenges in the Inland Empire industrial market, demand remains for facilities that can support manufacturing tenants requiring heavy power."

Located at 4350, 4388 and 4420 Serrano Drive, the three Class A, institutional quality manufacturing buildings feature 28 dock-high and three grade level doors, 30–32-foot clear heights, heavy power and fully secure concrete truck courts.

Strategically located in the West Inland Empire, the site has excellent access to State Route 60, Interstate 15, and the San Pedro Bay Port complex and is seven miles from Ontario International Airport. This distribution site is located near over 14 million people within a 50-mile drive.

CBRE Econometric Advisors reports that the Inland Empire has the country's highest five-year asking rent growth forecast, with 28.9% growth projected from 2025 to 2029. According to CBRE Research, the Inland Empire West recorded 8.7 million square feet of net absorption year-to-date in 2024, and total square feet under construction has fallen by 64% year-over-year.