Realterm announces it has acquired 1408 E. Franklin Avenue in Pomona, Calif., an 8.19-acre secured storage facility that offers 206 trailer stalls. The fully lit, secured and paved property also has a 5,648-square-foot office building and a 4,000-square-foot shop building.
“The Inland Empire remains a top national submarket and one of the most supply constrained in Southern California,” TJ Cameron, Associate Vice President, West Region Acquisitions, Realterm. “As a result, the demand is strong for large, secure storage yards such as 1408 E. Franklin Avenue and in a market where rents are on the rise.”
According to a recent Colliers market report, the vacancy rate in the Inland Empire is only 1.1 percent and asking rents have doubled in the past 24 months. 1408 E. Franklin Avenue offers easy access to the densely populated region via CA-60, CA-71 and I-10.
“This property has key differentiating factors. It is entitled for truck and trailer storage, it is larger than five acres and it offers superior freeway accessibility,” said Ed Brickley, Managing Director and Senior Fund Manager, Realterm. “It is ideally situated to service the concentrated user pocket of the entire Inland Empire market where it is difficult to find large, entitled and available secured storage facilities. This is an excellent addition to our growing portfolio of properties in Southern California.”
Highlights:
- Land area: 8.19 acres
- Square feet: 5,648 SF office building and 4,000 SF shop building
- Access: CA-60, CA-71, I-10 and Ontario International Airport
The deal was brokered by Jace Gan of Colliers International.
About Realterm
Realterm is an independent global investment manager focused on the transportation industry. We acquire, develop, finance and manage differentiated real estate and infrastructure assets serving land, air, sea and rail networks in North America, Europe and Asia. Realterm currently manages over $13 billion in assets across six transportation logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end, core-plus fund investing into high flow through (HFT®) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) Series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Income Fund (RELIF), an open-end, core-plus fund, and Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series, both of which invest into HFT logistics real estate throughout Europe; and IndoSpace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.
