November 5, 2019
Bridge Development Partners, LLC acquired the Fourth Street Distribution Center, a more than 1.4-million-square-foot facility in Rancho Cucamonga, CA from Big Lots, Inc. Brokers say the $191-million sale is the Inland Empire’s largest non-portfolio sale ever.
The facility has been in operation since 1984, and is being sold as a result of Big Lots’ move to a new advanced automation distribution center in Apple Valley. The Columbus, OH-based company will utilize the Rancho Cucamonga distribution center on a leaseback arrangement until the 1.4-million-square-foot Apple Valley distribution center is fully operational in spring 2020.
Big Lots’ Ronald A. Robins, Jr. (Rocky), says, “We are pleased to complete the sale of our legacy California distribution center as part of the transition to our new, state-of-the-art distribution center.”
JLL marketed the property, situated on 91.39 acres at 12434 Fourth St., on behalf of the seller, West Coast Liquidators, Inc. JLL also placed the three-year, floating-rate bridge loan with an institutional advisor, and JLL was awarded the leasing assignment for the property.
Brokers involved in the deal included JLL’s Mark Detmer, Bo Mills, Ryan Sitov, Sharon Wortmann, Mike McCrary, Peter McWilliams, Kevin MacKenzie, Brian Halpern and Brian Torp.
*Photo Google Street View
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