ASB Acquires Bloomington Industrial for $101M

ASB Real Estate Investments has acquired the Bloomington Logistics Center in Bloomington, CA for $101 million. The recently developed, triple net leaseed, 677,383-square-foot industrial property is 100% occupied by Newgistics, Inc., the e-commerce division of Pitney Bowes.

Located at 11260 Cedar Ave., the property is east of the L.A. port complex with ready access to the 10, 60, 15 and 215 freeways, and in close proximity to Ontario International Airport, the shipping hubs of UPS and FedEx.

The asset was purchased by ASB Real Estate Investments on behalf of its Allegiance Real Estate Fund, a $7.5 billion core vehicle. ASB Western Region SVP Aaron Duncan said: “This prime investment further expands ASB’s core industrial portfolio with a strong income-producing, best-in-class asset.”

The JLL Capital Markets team representing the seller of the property, Crow Holdings Indusrtrial, was led by Executive Managing Directors Mark Detmer and Bo Mills and Senior Vice President Ryan Sitov.

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