ASB Real Estate Investments has paid $100.5 million for the newly constructed, 677,383-square-foot Bloomington Logistics Center in the Southern California’s Inland Empire industrial market.
The class A property is 100 percent triple net leased on a long-term basis to Newgistics, Inc., the e-commerce division of Pitney Bowes. ASB made the investment on behalf of its Allegiance Real Estate Fund, a $7.5 billion core vehicle. The seller was not disclosed.
Located at 11260 Cedar Ave., the Bloomington Logistics Center has direct access to Interstate-10 and proximity to I-15 and I-60, and benefits from the ports of Los Angeles and Long Beach as well as Ontario International Airport and the shipping hubs of UPS and FedEx. The building features state-of-the-art construction — 36-foot-clear ceiling heights, cross-dock loading with 118 dock-high doors, 8-inch-thick slab floors, 185-foot concrete secured truck courts, ESFR sprinklers, and 171 trailer parking stalls.
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