ONTARIO, CA, JANUARY 15, 2020 – Cushman & Wakefield announced today the disposition of Pomona Distribution Center, an infill industrial building totaling 751,528 square feet (sf) in Pomona, California.
Rexford Industrial Realty, Inc. acquired Pomona Distribution Center from Prologis, Inc.
Jeff Chiate, Jeffrey Cole, Mike Adey, and Ed Hernandez from Cushman & Wakefield’s National Industrial Advisory Group (IAG) represented Prologis in the transaction, with Phil Lombardo and Ty Newland from the firm serving as market advisors.
Pomona Distribution Center is a multi-tenant industrial facility located at 1601 W. Mission Blvd. and part of the Mission-71 Business Park development. It features a gated truck court, 20’ clear height, 84 dock-high loading doors, partial ESFR sprinklers, and 4,000-amp power on a 32.2-acre site. The rectangular-shaped building offers access on three sides and dock-high loading positions on all four sides. The property sits on the border of Los Angeles and San Bernardino County, with immediate access to the SR-71 Freeway and immediate connections to Interstate 10 and the 57 Freeway.
“This was an unparalleled infill industrial investment opportunity in the San Gabriel Valley market of Los Angeles County, one of the most sought-after industrial markets in the nation,” said Jeff Chiate, Executive Managing Director and head of the West Region for Cushman & Wakefield’s IAG.
Pomona Distribution Center is 100% leased to Lumber Liquidators (NYSE: LL), the largest specialty retailer of hardwood flooring in the country, and HD Supply, one of the largest industrial distributors in North America.
As of third quarter 2019, market fundamentals remain strong in the San Gabriel Valley and the Inland Empire West markets with vacancy rates of 1.4% and 2.6%, respectively, according to Cushman & Wakefield Research.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Annie J. Canada
Cushman & Wakefield
+1 213 330 0911