H.I.G. Realty Partners, an affiliate of H.I.G. Capital, has completed the acquisition of the Southern California Logistics Center (SCLC), a seven-property, 2008–2017 vintage, 3.4-million-square-foot industrial portfolio located on the former George Air Force Base in Victorville, Calif., in an off-market transaction.
SCLC is 100 percent leased and provides mission critical logistics support to tenants in the consumer products, manufacturing, food and beverage, and aviation sectors. The portfolio’s robust adjacent labor pool and location both directly north of the Inland Empire region east of Los Angeles (1.4 percent vacancy rate and 24 percent year-over-year rent growth) and on the grounds of the Southern California Logistics Airport will continue to provide intrinsic value to users operating within the second-densest population cluster in the United States. SCLC will provide H.I.G. with attractive current cash-on-cash returns, as well as upside via a value-add business pl
