Transactions - DECEMBER 20, 2019

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Crow Holdings Industrial sells Inland Empire industrial building for $100m

by Released

Crow Holdings Industrial (CHI), the industrial development division of Dallas-based Crow Holdings, has sold the Bloomington Logistics Center, a 677,383-square-foot, fully leased, state-of-the-art, cross-dock warehouse/distribution building in the Inland Empire community of Bloomington, Calif.

The sales price $100.5 million.

The new owner is ASB Real Estate Investments, on behalf of its Allegiance Real Estate Fund, a $7.5 billion core vehicle.

Completed in 2019, Bloomington Logistics Center features a 36-foot clear height, ESFR sprinklers, 185-foot wide truck court, 3% skylights, LED lighting, 4,000-amp electrical service, ample parking spaces, low office finish, 118 dock-high doors and four grade-level doors. The building is triple net leased to Newgistics, Inc., the e-commerce arm of Pitney Bowes (NYSE: PBI), and creates cutting edge digital commerce, fulfillment, shipping and returns solutions. Situated on 34.54 acres at 11260 Cedar Avenue, the property has im

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