Exclusive: AEW Buys 2 Inland Empire Facilities for $111M

AEW Capital Management has acquired a two-building industrial portfolio in the Inland Empire for $110.6 million, according to Yardi Matrix information. Scuderia Development sold the assets.

One of the properties that changed hands is Meridian Distribution Center I, a 601,246-square-foot building in Riverside, Calif. The warehouse traded for $70.4 million, well above its previous sale price of $43.5 million sale price in October 2014.

Located at 14600 Innovation Drive, the 2013-completed building is part of Meridian Business Park, a 1,290-acre master-planned commerce center. The facility is close to Interstate 215 and Highway 60, while downtown Riverside is within 11 miles. Port of Los Angeles is 70 miles away.

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Meridian Distribution Center I features 95 dock-high loading doors with dock levelers and bumpers, 185- to 240-foot truck courts and a two-level office component. The facility has 32-foot maximum clear heights.

AEW also bought the 394,538-square-foot facility at 1001 Doubleday Ave. in Ontario, Calif., for $40.2 million—$102 per square foot. Its previous sale price was $32.5 million.

Completed in 1988, the facility is about 23 miles from Meridian Distribution Center I. Ontario International Airport is within 2 miles, while downtown Los Angeles is 42 miles away. The warehouse is close to interstates 10 and 15.

The building has 32-foot clear heights, 35 dock loadings doors and one drive-in door with levelers and bumpers. Additionally, the property features a 135-foot truck court and 10,000 square feet of office space.

AEW’s recent industrial expansion

AEW Capital Management has more than $33 billion in assets under management in North America, according to its website. Last month, the company paid $83.2 million for a property in Reno, Nev.

At the beginning of the year, AEW purchased two buildings within Freeport Crossing in Coppell, Texas, Yardi Matrix data shows. Nuveen Real Estate sold the asset.

Inland Empire industrial sales rank high

Last year, the Inland Empire ranked in the top 10 metros nationally for industrial sales, according to a Yardi Matrix report. The market saw almost $2.2 billion in assets changing hands, for an average price of $230 per square foot—nearly $100 above the national figure.

One of the most notable transactions of 2025 in the metro also comes from Scuderia Development. The company sold a 1.1 million-square-foot facility in Fontana, Calif., for $174 million. Bridge Logistics Properties purchased the asset.