Black Creek Group Sees Continued Demand for Industrial Space in the Inland Empire
Firm signs full-building lease for 447,000 square feet with leading third-party logistics provider and commences construction on 694,000 square feet
June 18, 2020
DENVER, June 18 — Black Creek Group, a Denver-based real estate investment management firm with a more than 25-year history, today announced a full-building lease with XPO Logistics, a leading third party logistics provider. The 447,000 square foot lease is for a Class A, distribution facility at the firm’s Agua Mansa Commerce Center located in the epicenter of the Inland Empire, one of the country’s strongest industrial markets. The completion of the lease brings the three-building project to 100 percent leased.
“We have seen an increase in demand for industrial space from e-commerce related tenants, like XPO, as businesses quickly adapt to the rapid shift in consumer behavior with people ordering more and more goods online to avoid public spaces due to the ongoing pandemic,” said Steve Young, Black Creek Group’s senior vice president of asset management for the Western region. “Additionally, we are pleased to expand our relationship with XPO, as they currently occupy another one of our logistics buildings in the Inland Empire market, and we look forward to partnering with them again as they continue to expand and meet growing e-commerce demand.”
Black Creek Group was represented by Rick John, Ken Anderson and Gus Andros of Daum Commercial and XPO Logistics was represented by Mike Chavez of Lee & Associates and Steve Shields of TPC. To address the continued demand for modern industrial space in Southern California’s supply constrained market, the firm is scheduled to commence construction on three Class A distribution warehouses totaling 694,000 square feet.
• Perris Distribution Center III, a 251,000 square foot facility, is in the Inland Empire East and is expected to be completed in Q1 2021. For leasing information contact either Ian & Chris DeVries of Colliers International or Don Kazanjian of Lee & Associates.
• Fontana Logistics Center, a 193,000 square foot facility, is in the Inland Empire West and is expected to be completed in Q1 2021. For leasing information contact Juan Gutierrez and Brad Fox of Voit Real Estate Services.
• Gateway Logistics Center LP, a 250,000 square foot facility, is in Torrance, CA and expected to be completed in Q2 2021. For leasing information contact Greg Dyer and Tres Reid of CBRE.
Black Creek owns approximately 5.9 million square feet of industrial real estate in Southern California with an additional 1.2 million square feet under development in the area.
About Black Creek Group
Black Creek Group is a leading real estate investment management firm that has bought or built over $21 billion of investments throughout its more than 25-year history. The firm manages diverse investment offerings across the spectrum of commercial real estate – including industrial, multifamily, office and retail – providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has seven offices across the United States with approximately 300 professionals. More information is available at blackcreekgroup.com.
