IRVINE, Calif., Sept. 22, 2026 (GLOBE NEWSWIRE) — CIP Real Estate this month acquired a multi-use business center in the highly supply-constrained Los Angeles submarket of San Gabriel Valley 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 offers 109 individual industrial, flex office, and service commercial suites with flexible configurations ranging from 640 to 8,400 square feet and is currently 92% leased. It is conveniently located just one mile from the 60 freeway in the extremely supply constrained City of Industry MSA for small bay industrial space. CIP Real Estate will be commencing a new $3.5 million capital market program in 2026 to upgrade both the exterior and interior finishes across the project.
The acquisition caps a busy summer schedule for CIP Real Estate, which closed on over $200 million in industrial park transactions in the past 90 days in Dallas, South Florida and Atlanta. In total, these recent purchases increased CIP Real Estate’s total industrial portfolio to over $2.5 billion.
“We are very pleased to add Walnut Tech Business Center to our portfolio,” said Eric Smyth, CEO of CIP Real Estate. “Very few quality small bay industrial parks come available for sale in Southern California each year, especially a best-in-class project in this strategically important sub-market of LA County.”
The acquisition was financed with a loan from City National Bank, arranged by the SoCal debt team at JLL. CIP Real Estate represented itself in the transaction and the seller, an affiliate of AEW, was represented by the JLL West Coast Capital Markets team of Patrick Nally, Evan Moran and Chad Solomon.
About CIP Real Estate
CIP Real Estate is a full-service real estate investment company focused on the acquisition, repositioning, re-branding, and management of industrial assets throughout West Coast, Southeast and Texas markets. Founded in 1995 and based in Irvine, CA, the company owns and manages over 12 million square feet of quality properties, with offices in California (Irvine, Ontario, Walnut, Riverside, Fremont), Las Vegas, Charlotte, Atlanta, Dallas and Florida. www.ciprealestate.com.
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Christine Byrd
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