Liberty Property Trust Buys and Leases 1543 N. Alder Street in East Inland Empire
Developer’s Redlands Project Also Fully Leased
Malvern, PA – August 28, 2018 – Liberty Property Trust continues to expand its footprint in Southern California with the acquisition of 1543 N. Alder Street in Rialto.
“Our plan had been to acquire the 426,302 square foot building at shell-completion and then market it for lease when a tenant with an immediate need reached out,” said Erin Plourde, Vice President - Acquisitions, Liberty Property Trust. “We closed on the building and leased it in full in just a week.”
The tenant, CTDI, has moved into the building (known as I-120 Logistics VI,) which has been designed to achieve LEED® certification. It features 36-foot clear height, 53 dock-high loading doors, two grade level loading doors, a 185-foot fully secured concrete truck court and parking for nearly 100 cars.
Liberty purchased the property in late June and now owns four buildings at or near the intersection of Alder and Baseline Streets, all in the boundaries of Rialto’s “Renaissance Specific Plan,” a master-planned multi-use area.
Development Project in Redlands Delivered and Leased
In August, Liberty fully leased its first industrial development project in the market, a newly completed 156,263 square foot building at 9724 Alabama Street in Redlands, to Global Logistics Connections.
The LEED® certified building is located at the corners of Alabama Street and San Bernardino Avenue. It features 32-foot clear height and 54 x 50-foot column spacing, 26 dock doors, one grade-level door, office and finished mezzanine space. The property also offers a dedicated 164-foot truck court and 93 car parking spaces. The location is particularly attractive as it offers access to the I-10, I-210 and I-215 Freeways.
Groundbreakings Planned in Rialto and Ontario
As previously announced, Liberty plans to break ground two buildings this fall. Both are expected to be completed in the second quarter of 2019.
The company will begin development of I-10 Valley Logistics Center, a 401,106 square foot industrial building at the intersection of Valley Boulevard and Spruce Avenue in Rialto. That building will be 365-feet in depth with 36-foot clear height and 56 by 65-foot column spacing. It will include 3,556 square feet of office space, 49 dock doors, two drive-in doors, and parking for 70 trailers and 240 cars.
The company will also break ground on a 94,911 square foot building on a five-acre parcel on Cucamonga Avenue at Acacia Street in Ontario, Ca. The building will be 160-feet deep with 36-foot clear height and 54 by 50-foot column spacing. It will include 4,021 square feet of two-story office space, 15 dock doors, one drive-in door, and parking for four trailers and 63 cars.
About Liberty Property Trust
Liberty’s Southern California portfolio offers over 4.3 million square feet of industrial space across 18 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 103 million square foot portfolio provides productive work environments for 1,200 tenants.
Released August 28, 2018