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Los-Angeles based Colony Capital is strengthening its last mile efforts by acquiring 54 warehouses for $1.16 billion.
The properties span 10 markets and equal 11.9 million square feet. According to the Los Angeles Business Journal , the portfolio is 71 percent leased and is made up of 48 last-mile properties.
The transaction expands Colon Capital's square footage by 25 percent and is part of the company's strategic expansion into the industrial warehouse network.
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