NEWPORT BEACH and RANCHO CUCAMONGA, Calif. (July 26, 2021) – Alere Property Group, a leading developer and investor of industrial real estate in Southern California, today announced its acquisition of 8700 White Oak Avenue, a 72,051-square-foot, single-tenant distribution warehouse in Rancho Cucamonga, Calif. The property is well-located in the Inland Empire West submarket, accessible to the region’s vast logistics transportation routes and includes design elements ideal for last-mile distribution. The building is currently occupied by a third-party logistics (3PL) user. Terms of the transaction are undisclosed.
“8700 White Oak Avenue is a welcome addition to Alere’s established Inland Empire portfolio,” said Alan Carmichael, senior vice president of investments, at Alere Property Group. “The property represents a unique opportunity to acquire a well-configured industrial asset with a first-rate tenant at below replacement cost. Alere continues to seek investment opportunities in top-tier locations throughout Southern California that offer exceptional functionality, accessibility and efficiency.”
Completed in 2000, 8700 White Oak Avenue was acquired in excellent condition. The 4.37-acre property features a secured, drive-around yard with two points of entry. The building offers 26-foot clear height, 15 dock-high doors, two grade-level doors and 4,800 square feet of two-story office space.
8700 White Oak Avenue is centrally located within Rancho Cucamonga’s industrial area and easily accessible to the ports of Long Beach and Los Angeles and other key logistics hubs via the I-210, I-15, and I-10 freeways. The property lies south of Arrow Route, between Haven Avenue and Milliken Avenue, two major regional thoroughfares. The Ontario International Airport is within a ten-minute drive from the property.
Located at the base of the scenic San Gabriel Mountain foothills, Rancho Cucamonga is a desirable place to live and work, offering ample lifestyle amenities such as dining and shopping. The city is approximately 37 miles from downtown Los Angeles with about 14 million people living within a 60-minute drive. This broad reach attracts a deep pool of industrial warehouse tenants due to the strong nearby labor force and robust consumer base.
“Rancho Cucamonga is a prime location for last-mile distribution, and 8700 White Oak Avenue is ideally positioned to serve this segment of the logistics chain,” said Doug McGilvray, vice president of capital markets at Alere Property Group. “The Alere team is pleased to have strengthened its foothold in the Inland Empire West submarket with the addition of another valuable asset that is in high demand as the Southern California economy continues to grow.”
Nick Velasquez and Mike Hartell of Colliers International represented the seller and Alere in this transaction.
Alere owns over 20 million square feet of industrial space within the Inland Empire West and East submarkets. The firm targets core and value-add investment opportunities throughout Southern California, in addition to large-scale ground-up development opportunities ranging from 25,000 to over 1 million square feet.
About Alere Property Group
Founded in 2003, Alere Property Group is one of the largest and most established owners of industrial real estate in Southern California with a robust portfolio of over 30 million square feet of high-quality industrial space valued at approximately $6.3 billion. The Newport Beach-based company is an efficient, vertically integrated operation with capabilities spanning all functions of investment and development. Focused on creating long-term value, Alere builds sleek and modern industrial facilities that exceed expectations in design, functionality and efficiency in locations critical to meeting the complex needs of the world’s most sophisticated e-commerce, distribution and manufacturing corporations. For more information, visit alerellc.com. Follow the company on LinkedIn.
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