Liberty Property Trust Expands Its Southern California Portfolio with the Acquisition of 1898 Marigold Blvd. in Redlands
Global Commerce Solutions Enterprises Leases 2000 W. Baseline Rd. in Rialto
Wayne, PA — March 5, 2018 — Liberty Property Trust has purchased a new, fully leased building at 1898 Marigold Blvd. in Redlands, CA. This is Liberty’s third building in Redlands and further expands their footprint in Southern California.
“We’re experiencing great momentum in the evolution of our Southern California portfolio,” said Erin Plourde, Vice President of Leasing and Development in Southern California. “Our strategy is to purchase and develop quality industrial properties here, and we continue to seek opportunities and remain encouraged by market conditions.”
The cross-dock building offers 289,683 square feet of space, 32-foot clear height, 63 dock doors, a 195-foot deep truck court, and 95 trailer parking spaces. Built in 2002, it is in proximity of I-10, I-210, and I-215, and is a short distance from the San Bernardino Airport.
Tres Reid with CBRE represented the tenant in this transaction.
Liberty owns 2459 Almond Avenue and 9724 Alabama Avenue in the same vicinity.
Leasing 2000 W. Baseline Road
Liberty also recently leased the LEED® certified 2000 W. Baseline Rd. in Rialto, which it acquired in the spring of 2018.
Global Commerce Solutions Enterprises, LLC took the full building, a 176,000 square foot Class A property situated on 8.45 acres and will move into the space in March. Erik Hernandez with Lee & Associates represented the tenant and Frank Geraci, Juan Gutierrez and Adam Geiger of Voit Real Estate Services represented Liberty in the transaction.
The building offers office space, 32-foot clear height, 52 x 60-foot column spacing, 21 dock doors, a concrete truck court, and 26 trailer and 100 automobile parking spaces.
Updates in the Southern California Portfolio
Liberty is currently marketing the newly acquired 520 E. Orange Show Road property in San Bernadino. This property provides 318,989 square feet of space and offers 32-foot clear height, ESFR sprinklers, 40 dock high doors, and 35 trailer parking spaces.
Liberty continues to develop two buildings, one each in Rialto and Ontario, slated to deliver in the fourth quarter of this year.
About Liberty Property Trust
Liberty’s Southern California portfolio is 93.7% leased. It includes more than five million square feet of industrial space across almost two dozen buildings in Carson, City of Industry, Fontana, Gardena, Garden Grove, Hawthorne, Moreno Valley, Ontario, Redlands, Rialto, San Bernardino, San Fernando and Simi Valley.Liberty Property Trust (NYSE:LPT) 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 logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 106 million square foot operating portfolio provides productive work environments for 1,200 tenants.
Released March 5, 2019