After acquiring and quickly leasing the entirety of a San Bernardino, California warehouse property to LG Electronics last year, Westcore Properties has sold the 830,750-square-foot Cajon Distribution Center to DHL for an undisclosed price.
The Class A, cross-dock warehouse building is located on more than 35 acres at 6207 N. Cajon Blvd. It is well suited as a regional distribution hub due to its proximity to major freeways and a BNSF Intermodal. Modern features include 36 feet of clear height, energy-efficient lighting, generous trailer parking, ample power capacity, secured concrete truck yards, two guard shacks and state-of-the-art dock packages.
“We were proud to own this asset, and through the lease to LG added several reusable improvements that made the first-generation space more suitable for future occupants,” said Hack Adams, senior vice president at Westcore Properties.
DHL will occupy Cajon Distribution Center over time, using the facility to warehouse and distribute goods for its long-term clients. Corporate neighbors include Hewlett Packard, JC Penny and FedEx, among others.
DHL was represented in its unsolicited offer by Darla Longo, Barbara Perrier and Joey Sugar of CBRE. Westcore represented itself.
“We remain very bullish on the Inland Empire industrial market,” said Dan Ankeny, president and CEO of Westcore Properties. “When companies start making unsolicited offers, it’s a powerful indicator of the supply-demand imbalance and makes it a great place to own industrial real estate.”
About Westcore Properties
Westcore Properties is a global, entrepreneurial commercial real estate investment firm with a specialized focus in Western United States commercial and industrial properties. Since its founding in 2000, Westcore Properties and its affiliates have acquired and managed more than $5 billion in industrial and office assets, comprised of more than 850 buildings and totaling over 50 million square feet. In 2018, National Real Estate Investor ranked Westcore properties as one of the Top 50 owners of industrial real estate globally. In addition to its U.S. headquarters in San Diego, Westcore Properties has regional offices in Los Angeles; Oakland; Sacramento; and Denver, as well as satellite offices in London, England; and Lausanne and Geneva, Switzerland.