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Transactions - JULY 7, 2022

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Distribution facility in Southern California sells for $102m

by Released

The industrial team at Crow Holdings Development has sold a new 344,360-square-foot, LEED Silver-certified last-mile, robotics-distribution facility triple-net leased in the Inland Empire community of Bloomington, Calif.

The sales price was $102 million.

The building site spans 17.34 acres at 18025 Slover Ave. in a sought-after, last-mile location with valuable access to multiple transportation nodes, including Interstates 10, 15 and 215 and State Routes 60 and 91, along with two seaports, several airports and eight intermodal facilities. These highways connect the property to a population of more than 14.2 million residents within a 55-mile radius. The property is located within the top-performing Inland Empire Industrial market, which has high barriers to entry, overwhelming tenant demand and access to a large labor force.

Constructed in 2021, the facility offers the amenities and characteristics of a modern last-mile facility. The front-load building features

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