CIP Pays $4 Million for Industrial Complex

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CIP Real Estate bought a 17-year-old, two-industrial-building complex totaling 153,120 square feet, on 5.8 acres, at 6620 Escondido St. in Las Vegas for $4 million, or $26 per square foot, from Escondido LLC. Colliers International’s Brian Riffel represented the seller. CIP bought the property in a joint venture with a real estate investment fund managed by Blue Vista Capital Partners; CIP plans over $200,000 in property upgrades.