By IvyLee Rosario
Westcore Properties has sold the Cajon Distribution Center in San Bernardino, Calif., to DHL. The deal comes just one year after Westcore purchasing the property from Black Creek Group for $60.2 million and leased it to LG Electronics. DHL is set to occupy the space in phases, using the property to warehouse and distribute goods.
“With Cajon Distribution Center, we started with a great building, made several marketable improvements and captured an opportunity that arose in a tight industrial market where demand outstrips supply, especially supply of modern and secure Class A distribution facilities,” Hack Adams, senior vice president at Westcore Properties, told Commercial Property Executive.
Located at 6207 N. Cajon Blvd., the 830,750-square-foot asset is situated on more than 35 acres. The Class A, cross-dock warehouse features 36-foot clear heights, 50-foot by 56-foot column spacing, sky lights, an 8-inch floor thickness, ESFR fire sprinklers, energy-efficient lighting, ample power capacity, two guard shacks, concrete truck yards and state-of-the-art dock packages.
“We remain very bullish on the Inland Empire industrial market,” said Don Ankeny, president & CEO of Westcore Properties, in a prepared statement. “When companies start making unsolicited offers, it’s a powerful indicator of the supply-demand imbalance and makes it a great place to own industrial real estate.”
Image courtesy of Westcore Properties