LOS ANGELES – JLL Capital Markets announced today that it has closed the $102 million ($296 per square foot) sale of a new, 344,360-square-foot, LEED Silver-certified last-mile, robotics distribution facility triple net leased in the Inland Empire community of Bloomington, California.
JLL marketed the property on behalf of the seller, the industrial team at Crow Holdings Development.
The building site spans 17.34 acres at 18025 Slover Ave. in a highly sought-after last mile location with valuable access to multiple transportation nodes, including Interstates 10, 15 and 215 and CA Highway 60 and 91, along with two seaports, several airports and eight intermodal facilities. These highways connect the property to a population of more than 14.2 million residents within a 55-mile radius. The property is located within the top-performing Inland Empire Industrial market, which has high barriers to entry, overwhelming tenant demand and access to a large labor force.
Constructed in 2021, the facility offers the amenities and characteristics of a modern last-mile facility. The front-load building features a 36-foot clear height, 49 dock-high doors, 185-foot-deep truck court, LED lighting, ESFR fire protection, market-standard office finish and ample vehicle parking.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Mark Detmer, Managing Director Ryan Sitov, and Senior Director Evan Moran.
“This transaction represents an extremely positive outcome for both seller and buyer, as we continue to see a very high level of demand for Class A industrial assets in the region,” Detmer said. “The property is a state-of-the-art asset that will allow goods to flow to consumers and will contribute as a valuable piece to the nation’s supply chain for years to come.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
