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Burlington Pays $257M for Riverside Warehouse It Occupies
Colliers arranged the sale of an 889,445-square-foot industrial warehouse at 21600 Cactus Ave. in Riverside. Burlington Distribution, the sole tenant since the property’s construction, has acquired the asset from the Seller, BlackRock, for $257,049,605. Vice chairs Mark Zorn and Cory Whitman led the disposition process on behalf of the buyer. CBRE represented the seller, BlackRock.
“Burlington’s commitment to this location is a testament to the Inland Empire’s status as a leading industrial market,” said Zorn. “This year has shown a strong growth trajectory for Burlington, and we are thrilled to be a trusted partner in expanding its presence across the region.”
Constructed in 2019, the warehouse features a 40′ clear height and 220 dock doors. The transition to ownership is a natural next step for Burlington as it continues scaling its business operations, according to Colliers. In a recent earnings call, Burlington reported that the company plans to open approximately 100 net new stores in 2025.
- ◦Sale/Acquisition