Birtcher Anderson & Davis Sells 3 Inland Empire Facilities – What is a Ground Lease?

, Birtcher Anderson & Davis Sells 3 Inland Empire Facilities – What is a Ground Lease?, Robert Khodadadian

5549 Stockdale Court. Image courtesy of DAUM Commercial

Birtcher Anderson & Davis Associates has sold three Class A industrial buildings totaling 92,000 square feet in Jurupa Valley, Calif. The buyer was AODES USA Inc. DBA AODES, an ATV and UTV manufacturing and distribution company. According to CommercialEdge data, the properties traded for a total of $20.1 million and were subject to a $13.4 million loan, provided by East West Bank.

DAUM Commercial represented the buyer, while Cushman & Wakefield facilitated the deal for the seller. The new owner is planning to move its headquarters to the location.

The ensemble is part of Mt. Jurupa Business Park, a five-building complex, developed by Birtcher Anderson & Davis. The company recently sold the other two facilities as well, for a total of 22.5 million, according to The Registry.

A recent DAUM industrial report shows that Inland Empire’s overall sales volume in the third quarter was down 19.5 percent from the previous quarter. Jurupa Valley reached the highest, $500 million sales volume in the market, at an average price of $450 per square foot, higher than the region’s median price of $365 per square foot.

As of October, Inland Empire was in the lead in terms of rent growth, with an 11.6 percent year-over-year increase, outperforming the national average of 6.2 percent, according to the latest CommercialEdge industrial report.

Recently completed facilities

Completed in 2022, the one- and two-story warehouse and distribution facilities sit on 4.9 acres and feature 28- and 30-foot clear heights, dock-high and ground-level doors, along with ESFR fire sprinkler systems.

Located at 5500, 5549 and 5529 Stockdale Court, 3.5 miles from downtown Riverside, Calif. and 13 miles from San Bernardino, Calif., the complex offers access to Freeway 60 and Interstate 10. Companies in the surrounding area include FedEx, Walmart, Living Spaces Distribution Center and Lineage Logistics, among others.

DAUM Commercial First Vice president Frank Mao brokered the deal for the buyer, while the Cushman & Wakefield team representing the other party included Managing Directors Tal Siglar and Milo Lipson, alongside Senior Associate Daniel Wahl.

The post Birtcher Anderson & Davis Sells 3 Inland Empire Facilities appeared first on Commercial Property Executive.

 Industrial, Inland Empire, Investment, News, West, Cushman & Wakefield, Daum Commercial, Davis Partners, East West Bank 

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