BLOOMINGTON, CA—Realterm/NAT, a a vertically integrated owner and manager of high flow-through logistics facilities has purchased YRC Bloomington Truck Terminal, a 51.42 acres industrial site here for $58.15 million.
CBRE handled the deal for the both the buyer and the seller, Pacific Industrial and institutional investors advised by J.P. Morgan Asset Management.CBRE vice chairmen Darla Longo, Barbara Emmons, and Mike Caprile, and vice president Rebecca Perlmutter Finkel, with local support from first vice president Grant Ross and Newmark Grubb Knight Frank's Steve Sprenger were instrumental in the deal.
“This is rare opportunity to acquire such a large property in the highly desirable Inland Empire West,” says Emmons. “This area continues to demonstrate its strong market dynamics, with a low vacancy rate of three percent and a net absorption of 9.6 million square feet.”
YRC Bloomington Truck Terminal consists of two truck terminals with 325 loading doors totaling 165,141 square feet with a 32,630 square foot shop building. It is 100% leased through January 2019 to a subsidiary of YRC Worldwide Inc., one of the largest transportation service providers in the world.
“This is one of the top truck terminals in the entire county,” says Dan Floriani, co-founder of Pacific Industrial. “We felt extremely fortunate to own such a quality asset, but the time was right for us to monetize the property. The CBRE team did an excellent job facilitating the sale and we congratulate Realterm on their acquisition of this great asset.”
The site is located off I-10 at Cedar Street with freeway visibility, 12 miles east of the Ontario International Airport.
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