Newport Beach, CA-based Bixby Land Company acquired a 104,500-square-foot warehouse and distribution building in San Bernardino, CA from Western Realco for $10.2 million. The project is fully leased through 2026 to C.H. Robinson Company, Inc., a worldwide leader in third party logistics.
The building is located on a 5.07-acre parcel proximate to the I-215 Freeway at Palm Dr. Built in 2008, the building features 30-foot clearance, ample dock-high and grade level loading capacity, and an expansive truck court with a 140-foot turning radius.
Bixby’s Mike Severson says, “This acquisition is part of a broader investment strategy to increase our core industrial holdings in markets where sound real estate fundamentals complement the income certainty from established tenants on long-term leases.”
JLL’s Bo Mills, Ruben Goodsell and Patrick Wood represented both sides in the transaction.