Exeter Property buys massive industrial site in hot Inland Empire

The 41-acre site includes an 800K-sf warehouse fully leased to Bob's Discount Furniture
By Gregory Cornfield | April 23, 2019 03:00PM

Ben Hoog, leasing and acquisitions for Exeter Property Group, and the site at 6227 Cajon Boulevard

Exeter Property Group has closed on the latest big industrial sale in Inland Empire, an area that has led the way in that space nationwide.

The firm paid $97.8 million for the San Bernardino property, which includes an 806,300-square-foot building fully leased to Bob’s Discount Furniture. The seller was Massachusetts-based Waterstone Properties, represented by JLL and Insignia PMG.

The property is located at 6227 Cajon Boulevard and has access to the BNSF Intermodal Yard, FedEx Ground Rialto, UPS Air Hub and Ontario International Airport.

Inland Empire led the national market in warehouse deals last year, thanks in part to a surge in foreign investment that was almost triple the overseas sales in 2017.

Ten-X Commercial predicted last year that rents in Inland Empire will increase by 6.5 percent through 2022, and that vacancies would jump to 9.5 percent in the same time.