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

TRD LOS ANGELES /
Apr.April 23, 2019 03:00 PM
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.


Related Articles

arrow_forward_ios
Aerial of inland empire industrial areas (Credit: CBRE via OBSERVER MEDIA)

The Inland Empire’s booming logistics industry is a double-edge sword

The Inland Empire’s booming logistics industry is a double-edge sword
The Uihlein family and a rendering of Ontario Ranch Logistics Center (Credit: Colliers International and Uline)

Shipping supply giant inks 1.2M sf lease deal in Inland Empire

Shipping supply giant inks 1.2M sf lease deal in Inland Empire
Nearly 10 percent of homes in Riverside County are worth less than their mortgages, making them particularly vulnerable amid the coronavirus crisis. (Credit: David McNew/Getty Images)

Inland Empire housing market is SoCal’s worst-positioned to weather pandemic fallout: report

Inland Empire housing market is SoCal’s worst-positioned to weather pandemic fallout: report
The building at 8201 Woodley Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps)

Blackstone pays $83M for pair of industrial properties in Van Nuys

Blackstone pays $83M for pair of industrial properties in Van Nuys
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Riverside County Supervisor Kevin Jeffries (Credit: Inland Valley Development Agency, Riverside County) 

Inland Empire industrial strength is health hazard, opponents say

Inland Empire industrial strength is health hazard, opponents say
From left: Rexford co-CEO Michael Frankel, 12752-12822 Monarch St. in Garden Grove, 508 East E St. in Wilmington and Rexford co-CEO Howard Schwimmer (Credit: Google Maps)

Rexford Industrial nears $1B in SoCal acquisitions this year

Rexford Industrial nears $1B in SoCal acquisitions this year
CPD industrial properties

KOAR affiliate pays $26M for Glendale industrial portfolio

KOAR affiliate pays $26M for Glendale industrial portfolio
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...