CIP Pays $61M for San Gabriel Valley Business Park

CIP Real Estate has acquired a multi-use business center in the supply-constrained San Gabriel Valley submarket for $60.65 million. The Walnut Tech Business Center at the intersection of Valley Boulevard and Lemon Avenue in Walnut is a 200,049-square-foot shallow bay complex comprising 11 buildings. The property is currently 92% leased. CIP will launch a $3.5-million...