MDH Pays $112M for Inland Empire Logistics Center
Just two years ago, this asset traded for $57.5 million.
MDH Partners has purchased Harvill Logistics Center, a 333,570-square-foot industrial facility in Perris, Calif. According to Riverside County public records, the asset traded for $112.3 million. The seller was a joint venture between Blumenfeld Development Group, Declaration Partners and CH Realty. The building is fully occupied by global health-care company Cypress Medical Products.
The same source shows that the asset previously traded in 2021 for $57.5 million, when it was sold by developer Rockefeller Group.
Completed in 2021, Harvill Logistics Center is a one-story concrete building with 36-foot clear heights, two grade level doors and 46 dock-high doors, CommercialEdge data shows. The Class A property also includes a two-story office component of approximately 7,976 square feet, 64 trailer parking spots, 191 vehicle parking spaces and a concrete truck court.
Situated on 16.9 acres at 21500 Harvill Road, the asset has immediate access to Interstate 215 and is 17 miles from Riverside, Calif., 27 miles from SBD International Airport and within 55 miles of Irvine, Calif. Additionally, the nearby Cajalco Expressway provides easy access to Santa Ana, Calif., and Anaheim, Calif., as well as to Los Angeles.
Growing California footprint
MDH Partners Vice President of Acquisition Houston Hawley and Managing Director Georga Rowe arranged the transaction. With this investment, the company’s California footprint increased to more than 460,000 square feet.
Nationwide, the Atlanta-based company purchased more than 5 million square feet of industrial space since the beginning of 2023, including a 1.4 million-square-foot portfolio in the Atlanta and Memphis, Tenn., metro areas.
In April, MDH paid $67.5 million for a 670,914-square-foot industrial facility in Fort Worth, Texas. Van Trust Real Estate sold the fully leased asset.