BlackRidge Acquires SoCal Distribution Center
- Dec 31, 2010
December 31, 2010
By Allison Landa, News Editor
BlackRidge Real Estate Group L.L.C. has acquired Jasmine Distribution Center, a 402,539-square-foot industrial property in Fontana, Calif. The property was acquired from BlackRock Real Estate for $15.7 million, or $39.1 per square foot.
Located at 10721 Jasmine St., the property was built in 1991. It is a frestanding, concrete tilt-up industrial building with 30-foot clearance, 50 dock-high doors, two ground-level ramps and 3,000 amps of electrical service. It sits on a 17.1-acre site and is currently vacant.
Both BlackRidge and the seller were represented by Colliers International senior vice president Tom Taylor, executive vice president Steve Bellitti and associate Summer Coulter out of the firm’s Ontario, Calif., office.
This is BlackRidge’s second Inland Empire acquisition within the past 90 days. The firm recently bought 1000 Etiwanda, a 302,020-square-foot distribution center in Ontario for $14.4 million.
According to BlackRidge principal Anthony Brent, the two purchases firmly establish the firm’s commitment to acquiring warehouse distribution properties in Southern California industrial markets. He added that BlackRidge is continuing to pursue these opportunities on an all-cash, quick-close basis.