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A 344,360-square-foot warehouse leased to Amazon in Bloomington has sold for $102 million.
The single building was completed in 2020 on 17.32 acres, according to documents provided by Vizzda, a commercial real estate data provider.
The distribution facility at 18025 Slover Ave. was sold to an LLC linked to Property Reserve in Salt Lake City. The seller was Crow Holdings.
The deal closed on June 30, according to Vizzda.
The Inland Empire is home to 583 million square feet of warehouse and logistics buildings, according to CoStar. More than 30 million more square feet of big-box industrial are under construction.
The legwear manufacturer behind such popular brands as Puma, Hurley, Champion and Skechers has signed a long-term lease for a 1.8 million-square-foot distribution center in Beaumont.
The facility, under development by McDonald Property Group for landlord USAA Real Estate, will be the global design/manufacturing, marketing, sales and distribution center for United Legwear & Apparel Co.
The New York-based company makes a variety of apparel for name brands sold around the world. Its warehouse will be part of the 85-acre Phase II of the Crossroads Logistics Center, a master-planned project at the intersection of Interstate 10 and Highway 60.
Chris Volpe, chief operating and financial officer of ULAC, said the facility will be the company’s flagship West Coast Distribution Center.
“The Beaumont Crossroads Logistics Park will allow us to streamline and consolidate our West Coast logistical hub and distribution point as the premier tenant in this amazing facility.” Volpe added, “We are honored to participate in such a monumental on-shore infrastructure project which will support our growth plan and commitment to our valued retail customers along with allowing us to create highly compensated U.S.-based jobs.”
Construction on the ULAC building began in July and should take 18 months to complete by December 2023.
The new distribution center will contain assembly, racking and material handling conveyor automation systems and includes roughly 30,000 square feet of office space.
JLL, which represented ULAC in the lease, said the half-mile-long building would be one of the largest-known industrial buildings in Southern California. The nearby Skechers facility in Moreno Valley is just a notch bigger at 1.82 million square feet.
Los Angeles-based Dedeaux Properties has tilted up the walls on a 47,809-square-foot high distribution center in Bloomington.
The warehouse at 2238 S. Lilac Ave. will have 85 dock-high doors, 226 trailer parking stalls, 44 auto parking spots and a 5,698 square foot two-story office area. It’s expected to be finished by year’s end.
“Demand for modern, mid-size and large industrial space is being fueled by a wide variety of users including food, healthcare, e-commerce and logistics users,” said Principal and Manager Brett Dedeaux.
Bridge Logistics Properties has bought a 14-acre truck depot in Rialto for $83 million.
The off-market deal for 2650 S. Willow Ave. closed in May, according to documents provided by Vizzda. The seller was TForce Freight Inc.
“Truck terminal inventory is heavily constrained by entitlement headwinds and therefore inventory is limited.” said Paul Jones, a managing director at BLP. “At the same time, the expanding e-commerce economy is deepening demand for these facilities and creating a backdrop for further value appreciation.”
BLP is a subsidiary of Bridge Investment Group Holdings Inc.
Other deals completed this year in the Inland Empire include a 175,291-square-foot warehouse at 10808 6th St. in Rancho Cucamonga, and the Rialto Distribution Center.
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Progressive Real Estate Partners brokers Greg Bedell and Paul Su represented a Los Angeles based investor in the $2,250,000 sale of a 4,972 square-foot freestanding retail building.
The store at 12367 Foothill Blvd. will be the 13th Beauty 4U location and second in Southern California store when it opens later this year.
The chain founded in 2000 offers a line of beauty products including hair care, styling tools, wigs and cosmetics.
The ninth annual Top Workplaces program is winding down its nomination period for Inland Empire companies and organizations.
The deadline to nominate is Friday, Aug. 5.
Last year, the Inland News Group’s program invited 1,306 companies to take the survey to determine who would make the list of Top Workplaces. In all, 50 companies or organizations took part and 33 winners were honored.
Here’s a look at who and how you can nominate local companies and organizations …
The business briefs are compiled and edited by Business Editor Samantha Gowen. Submit items to sgowen@scng.com. High-resolution images also can be submitted. Allow at least one week for publication. Items are edited for length and clarity.
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