By Evelyn Jozsa
Black Creek Group has acquired a three-building industrial portfolio totaling 743,381 square feet in Colton, Calif. DAUM Commercial Real Estate Services and CBRE represented the buyer and the seller in the deal.
The portfolio includes three newly constructed, Class A warehouses. Positioned near major transportation arteries such as interstates 10 and 215 and State Route 60, the facilities are located at:
- 2036 Miguel Bustamante Parkway (121,196 square feet)
- 2053 Miguel Bustamante Parkway (174,995 square feet)
- 2163 S. Riverside Ave. (447,190-square-foot property)
Strong industrial demand
The buildings feature dock-high loading, office space, ESFR sprinkler systems, with minimum clear heights ranging from 32 to 36 feet. The DAUM Commercial team of Senior Vice President Ken Andersen and Executive Vice President Rick John arranged the transaction together with CBRE Vice Chairman Barbara Emmons Perrier and Darla Longo, vice chairman & managing director, also with CBRE.
“The firm quickly received several competitive bids on these properties from high-quality potential tenants, who are seeking prime industrial space in the Inland Empire,” Andersen said in prepared statements. “The region’s industrial market remains strong, posting a steady increase of asking rents, which moved up 7.6 percent in the past year.”
Image courtesy of DAUM Commercial Real Estate Services