Persis Sells California Property
Honolulu-based Persis Corp. sold a 656,000-square-foot warehousing property in Mira Loma, Calif leased to Wal-Mart to an advisor to the Washington State Investment Board for $27.6 million.
Persis acquired the recently constructed industrial building in July 2001 several months after Wal-Mart took occupancy. The facility was constructed by Kajima Construction and leased to Wal-Mart on a triple net basis.
Persis will continue to pursue a strategy of rebalancing its 2 million square foot single tenant net leased portfolio by way of opportunistic dispositions for the next 18 months.
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Friday, August 22, 2003
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