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April 21, 2018
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Black Creek Group Buys 743k sf Inland Empire Industrial Portfolio

3/27/18

Black Creek Group, out of Denver, has purchased a portfolio of three adjacent industrial warehouses, totaling 743.4k sf in Colton. The portfolio consists of a 121.2k sf property located at 2036 Miguel Bustamante Pkwy, a 175k sf property located at 2053 Miguel Bustamante Pkwy, and a 447.2k sf property at 2163 South Riverside Ave.

The warehouses all feature dock-high loading, ESFR sprinkler systems, minimum clear height ranging from 32’ to 36’, and state-of-the-art office space. The buildings also provide the benefit of the City of Colton’s reduced utility rates compared to surrounding areas.

The properties are located in close proximity to the Interstate 10, Interstate 215, and State Route 60 freeways, providing ease of access throughout the region. Corporate neighbors include Unilever, Home Depot, and FedEx.

Ken Andersen, and Rick John with DAUM, along with Barbara Emmons Perrier and Darla Longo of CBRE, brokered the transaction on behalf of the buyer and the seller, one of the largest REITs in the United States.

According to Andersen, one of the buildings was leased to Mattress Firm, while the other two properties are currently in lease negotiations.

Andersen points to the Inland Empire’s industrial market fundamentals as a key indicator of the strength of this investment. “The region’s industrial market remains strong, posting a steady increase of asking rents, which moved up 7.6% in the past year,” Andersen notes, citing a recent DAUM market report.





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