Bridge Logistics Properties Acquires Three-Building Industrial Portfolio in Fontana for $83.5 Million
Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings Inc., has acquired a newly constructed, three-building industrial portfolio in Fontana, California, for $83.5 million. The seller has not been disclosed.
The Class A portfolio, located in the highly sought-after Inland Empire West submarket, consists of three fully leased properties totaling 332,793 square feet. The assets include:
– 14074 Rancho Court (100,039 square feet)
– 14019 Rose Avenue (57,654 square feet)
– 14928 Washington Drive (175,100 square feet)
All properties are fully occupied, featuring a weighted average lease term of more than two years.
“During this period of pronounced price dislocation, our investment thesis focuses on acquiring best-in-class, well-located assets with strong in-place cash flow,” said Paul Jones, Managing Director of BLP. “Local municipal headwinds, AB 98, and general land scarcity are causing significant barriers to new development. Once economic conditions stabilize and tenant demand normalizes, we believe we will see value appreciation for existing assets.”
With this acquisition, Bridge Logistics Properties expands its national portfolio to 16.3 million square feet.
