The Covington Group has acquired a seven-property logistics portfolio for an undisclosed amount. The 3.4 million-square-foot property is located at the Southern California Logistics Centre in the Inland Empire. Covington partnered with an institutional investor on the transaction. The deal is the largest single-transaction to ever trade in the Inland Empire. Pricing information was not disclosed.

The Southern California Logistics Centre is a redevelopment of the George Air Force Base in Victorville, and has been ongoing for 20 years. Once complete, the property will be a fully-integrated multimodal transportation hub generating jobs and commerce for the entire region, according to Covington.

The property also feature an airport, which is expected to attract demand from both logistics and distribution users as well as manufacturing users in the Greater L.A. area in need of space. The new 20 million square foot Southern California Logistics Airport in Victorville, which is currently under construction, could become a hub for manufacturing users—both driving occupancy at the project and at a more affordable price for manufacturing users.