Bloomington Logistics Center Trades for $100M

Crow Holdings Industrial has sold the Bloomington Logistics Center in the Inland Empire for $100.5 million to ASB Real Estate Investments, which purchased the asset on behalf of its Allegiance Real Estate Fund.

Completed in 2019, Bloomington Logistics Center features a 36-foot clear height, ESFR sprinklers, 185-foot wide truck court, 3% skylights, LED lighting, 4,000-amp electrical service, ample parking spaces, low office finish, 118 dock-high doors and four grade-level doors. The building is triple net leased to Newgistics, Inc., the e-commerce arm of Pitney Bowes, and creates cutting edge digital commerce, fulfillment, shipping and returns solutions.

The JLL Capital Markets team representing the seller was led by executive managing directors Mark Detmer and Bo Mills and SVP Ryan Sitov.