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June 27, 2022
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Alere Property Group Acquires 700k sf Single-Tenant Industrial Facility in the Inland Empire

1/12/22

Alere Property Group purchased Freeway Business Center, a new state-of-the-art industrial warehouse facility located in Riverside. The facility, completed in 2021, is leased to UNIS LLC, a national third-party logistics provider, through August 2028. Terms of the sale transaction are not disclosed.

Freeway Business Center consists of a 709k sf, single-tenant building featuring 36-foot clear height, 8.4k sf of office space, ESFR and drive-around access. There are 109 dock-high doors, offering abundant loading from two sides of the building, and a large secure concrete truck court that stretches up to approximately 300 feet. Truck access is along a quiet street with two queuing lanes, a valuable feature for high-volume users. The building also has the flexibility to demise into two suites.

Freeway Business Center is located at 2677 E. Alessandro Blvd, at the northwest corner of March Airforce Base. The fully leased, Class A asset lies along I-215, offering significant visibility and accessibility in one of the nation’s most sought-after industrial real estate and logistics submarkets.

The 39-acre property features over one-half mile of freeway frontage and is located less than two miles south of the SR-60 freeway interchange. Corporate neighbors include significant tenants such as Amazon, UPS, Home Depot, Proctor & Gamble, Ross Stores, Lowe’s and many others.

Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez, Brad Brandenburg and Matt Leupold of Cushman & Wakefield representexd Alere in this transaction. Alere maintains a portfolio of over 20 msf of industrial real estate in the Inland Empire West and East submarkets.

The Riverside/Moreno Valley/Perris (“RMP”) industrial real estate submarket offers an attractive mix of proximity to the ports of Long Beach and Los Angeles, reasonable drayage costs, quality infrastructure and access to a large blue collar labor force in western Riverside County. The rise of e-commerce continues to increase demand for industrial real estate as same-day and next-day delivery expectations are driving warehouses closer to customers. In 2020-2021, over 7.2 million square feet were absorbed in the Inland Empire East, shrinking overall vacancy to only 2.1%, and 0.9% in the Riverside submarket, according to Cushman & Wakefield.






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