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California  + Inland Empire  + Industrial  | 

Prime Inland Empire West Industrial Warehouse Trades for $69M

Deutsche Wealth Services acquired 9050 Hermosa Ave., a 468,682-square-foot industrial warehouse in Rancho Cucamonga, CA, from TH Real Estate, an affiliate of Nuveen, the investment arm of TIAA, for $68.95 million. At $147.11 per-square-foot, the deal ranks as the highest price per square foot sale for big box properties in the Inland Empire so far this year.

Built in 2004, the asset is a freestanding Class A industrial building on 20.17 acres of land in the Inland Empire West. It features cross-dock loading, fully-secured concrete truck courts, gate-controlled drive-around access, ESFR sprinkler system, 104 dock-high and 4 ground-level loading doors, and heavy power. The property is 100% leased to Ingram Micro.

Cushman & Wakefield’s Jeffrey Cole, Jeff Chiate, Mike Adey, and Ed Hernandez brokered the transaction, with Cushman & Wakefield’s Chuck Belden and Phil Lombardo and JLL’s Mike McCrary and Peter McWilliams serving as market advisors.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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