Illinois-based CenterPoint Properties has acquired a 211,000-square-foot industrial complex in Jurupa Valley, CA, the company’s fifth Inland Empire purchase in the past nine months. Colliers’ Clyde Stauff and Jace Gan brokered the transaction.
The Inland Empire is one of the hottest industrial markets in the U.S. with historically low vacancy rates and intense tenant demand, elevating rental growth dramatically. The Jurupa Valley building is equipped with a 30-foot clear height and 24 dock positions and is located near the 60 Freeway as well as I-10 and I-15.
“Demand is unprecedented in the Inland Empire as logistics companies compete to lease functional space proximate to the Ports of LA and Long Beach, as well as the Southern California population base,” said CenterPoint’s Ashley Vanacore in a news release. “Blue-chip facilities are a priority on companies’ wish lists, so we’re happy to add this distribution facility to our infill SoCal portfolio.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.