Morgan Stanley Real Estate Investing is doubling down on the high-performing industrial outdoor storage submarket. The real estate investment arm of the banking giant bought a 26-acre industrial outdoor storage parcel at 10650 Hemlock Avenue in Fontana for $92 million, Commercial Observer reported. The price works out to $3.5 million per acre. The seller of the parcel, one of the largest designated for industrial outdoor storage uses in the region, was Oldcastle Infrastructure, a subsidiary of CRH, the world’s largest building materials provider. Oldcastle will lease the property, where it has been operating for more than 30 years. As part […]
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