October 28, 2016
Newport Beach, CA-based TIAA-CREF Global Real Estate divested the newly-constructed San Bernardino Logistics Center for nearly $68.54 million. The 806,322-square-foot industrial distribution center, recently leased to a home furnishings tenant, and an adjacent 12-acre parcel was acquired by East Coast-based Waterstone Retail.
The facility was built last year on 53.5 acres within the North San Bernardino Business Park in the East San Bernardino submarket. The advanced logistics facility includes 36-foot clear height, 137 loading docks and 262 trailer parking stalls.
The site offers a potential campus environment and is surrounded by major corporate neighbors, including FedEx, Nordstrom, HP, Smuckers, DollarTree and Michelin.
JLL’s Peter McWilliams, Michael McCrary and Ruben Goodsell represented the seller. Insignia PMG’s Scott Schwartz represented the buyer.
For comments, questions or concerns, please contact Dennis Kaiser