Realterm announced today the acquisition of a 61,379-square-foot final mile industrial building located at 9550 Hermosa Avenue, Rancho Cucamonga, Calif. The six-acre property, located 37 miles east of downtown Los Angeles, has 14 loading positions and a large yard that is fully secured, paved and lit.
"Rancho Cucamonga is in the heart of the Inland Empire which has seen demand for industrial space skyrocket and vacancy rates drop in 2021 to close to one percent,” said Derek Fish, Vice President of Investments, Realterm. “This acquisition is another example of our strategy to acquire properties in top markets with excellent proximity to large populations that will enhance our portfolio and benefit end users.”
Located in the highly desirable Inland Empire West (IEW) submarket, the facility has direct access to the I-10, I-15, SR-60 and SR-210 with proximity to I-215 and SR-91. This strategic location allows for access to more than 17 million people located within 60 miles of the property. Additionally, the property is located less than two miles from Ontario International Airport, less than 10 miles from Chino Airport and 55 miles from the Ports of Los Angeles and Long Beach.
“This was a unique opportunity to a great final mile asset in a market that we project to outperform the broader U.S.,” said Stephen Panos, Senior Vice President – Fund Manager, Realterm. “The superior market fundamentals coupled with the property’s strong location and size appeals to trucking and logistics operators and will ensure strong performance with great downside protection.”
Highlights of the property include:
Square feet: 61,379 SF
Land area: 6.15 acres
Access: I-10, I-15, SR-60 and SR-210
Realterm is a real estate operator with a 30-year track record of executing niche private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $9 billion in assets through five logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end fund investing into high flow through (HFT) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series investing into HFT logistics real estate throughout Europe; and Interspace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.