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AEW sells Walnut industrial park for $60.7M
The 200,000-square-foot Walnut Tech Business Center was sold to CIP Real Estate II LLC, with JLL arranging the seller representation and the buyer’s acquisition financing through an unnamed bank.
AEW sold the Walnut Tech Business Center, a 200,000-square-foot shallow-bay business park in Walnut, for $60.7 million to CIP Real Estate II LLC, according to Bisnow.
Bisnow reports that JLL Capital Markets represented the seller with a team led by Patrick Nally, Evan Moran, Chad Solomon, Shae Vomund, and Lauren O’Neill, while a separate JLL team arranged acquisition financing for the buyer through an unnamed bank.
Bisnow also noted that JLL’s teams were involved as part of the transaction process, and that Northmarq hired Branden McBirney as a senior vice president, based in its El Segundo office, where he specializes in commercial real estate debt placement.