Industrial Properties Trust Acquires Leased Investment

4472 Georgia Blvd.

SAN BERNARDINO, CA—GlobeSt.com has exclusively learned that Industrial Properties Trust has purchased a leased-investment property here for $27.9 million. Located at 4472 Georgia Blvd., the 36-acre site where the 297,458-square-foot building is located serves as a regional logistics center for McLane Suneast Inc. , which will now lease back the building from IPT for an initial term of seven years. The warehousing and distribution structure includes 34,000 square feet of office space. Representing IPT in the transaction was Colliers International’s senior vice president Mark Zorn of the firm’s Ontario, CA office and executive managing director Bret Hardy of the brokerage firm’s Los Angeles office. Colliers’ Zorn and Irvine-based executive managing director Rick Putnam represented McLane Suneast, a wholly owned subsidiary of Berkshire Hathaway . “The sale and leaseback will serve both companies well by allowing them to focus on what they do best,” says Zorn. “McLane Suneast, which has some 80 regional distribution centers throughout the country, gets an infusion of cash and will focus on its supply-chain distribution network, and IPT adds a strategic piece of industrial property to its portfolio of investment properties” According to Hardy, “IPT’s investment allows for McLane to redeploy precious capital back into its core business, while allowing control of their mission-critical asset for a long period of time.” For its part, McLane Suneast, which buys, sells and delivers more than 50,000 different consumer products to nearly 90,000 locations across the US, leases most of its distribution centers and did not want to potentially have to relocate if the building was sold to an owner-user because of the site’s many logistical amenities. Those amenities include secured parking for its private fleet of semi-trailer trucks, plentiful dock-high and ground-level loading doors that can be operated on an around-the-clock basis, proximity to major surface transport routes, and its access to the ports of Los Angeles and Long Beach.