Pension Fund Buys Cerritos Industry Park

RREEF America Partners, a pension investment arm of the RREEF Funds of San Francisco, has purchased Cerritos Industrial Park for more than $60 million.

According to Coldwell Banker Commercial Real Estate Services, which negotiated the sale, the property at 13920 Artesia Blvd. includes a 48-acre parcel plus 32 buildings totaling about 980,000 square feet.

RREEF’s Southern California portfolio of industrial developments now includes more than 2 million square feet of space, said RREEF partner Steve Steppe.