Liberty Property Trust Buys a Building and Land in the “Heavyweight Corridor” of the South Bay
In leasing activity, developer fills its newly acquired building in San Bernardino
Wayne, PA – August 5, 2019 – Liberty Property Trust has acquired a 203,280 square foot building at 1245 Watson Center Drive, and an adjacent 2.3-acre parcel at 1161 Watson Center Drive, both in Carson, Ca.
“These infill properties are in the highly desired ‘heavyweight corridor’ – an area near the Port of Long Beach at which very heavy loads can be transported via truck without additional fees,” said Erin Plourde, Vice President – Leasing and Development, Liberty Property Trust. “The building is fully leased, as is the land parcel with near-term rollover. Both have rail access, and both offer a great deal of opportunity for the long-term.”
The cross-dock building is 400-feet deep and features 44 dock doors, five rail doors and a 10-position truck dock along the rail spur.
“This is a very beneficial design feature, as it allows rail cars to be emptied right into trailers rather than needing to store product in a warehouse,” added Plourde.
The building also provides for office and mezzanine space, as well as approximately 25,000 square feet of cooler space. The adjacent parcel of land is 175 feet wide and 615 feet deep and includes a small building. The property is currently being utilized for trailer storage.
John Schumacher of CBRE represented Liberty in the transaction.
Fully Leased at 520 Orange Show in San Bernardino
In other news, Liberty has fully leased its recent acquisition at 520 Orange Show Road in San Bernardino to Lean Supply Solutions. The tenant signed a long-term lease for the 318,989 square foot industrial building and taken possession of the space. Walt Arrington of CBRE represented the tenant and Mark Zorn and Kevin McKenna of Colliers represented Liberty.
Liberty bought the building at the close of 2018. Newly developed, it features 32-foot clear height and 52-by-50-foot column spacing and includes a 60’ speed bay, 40 dock doors, a 185-foot secured concrete truck court as well as finished office space.
About Liberty Property Trust
Liberty’s Southern California portfolio offers nearly 5.6 million square feet of industrial space across nearly two dozen buildings in Carson, Fontana, Gardena, Garden Grove, Hawthorne, Moreno Valley, Ontario, Redlands, Rialto, San Fernando and Simi Valley.
The company is a leader in commercial real estate, serving customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior industrial and office properties. Liberty's 109 million square foot portfolio provides productive work environments for 1,200 tenants.
General Inquiries: Erin Plourde, Liberty Property Trust, 610.648.1700
Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 443.944.9301
Released August 5, 2019