Core5 Industrial Partners Sells Logistics Center in Perris, California
248,483 SF Rider Business Center Purchased by TA Realty LLC.ATLANTA, July 10, 2024 – Atlanta-based Core5 Industrial Partners announced today the sale of Rider Business Center, a 248,483-square-foot freestanding modern logistics facility to TA Realty LLC. The project completed construction in March 2024 to Class A construction specifications and incorporates the latest in technology with 36’ vertical clear height, 3% skylights, LED lighting, 146 auto parking spaces and first floor office space. Rider Business Center is in the Inland Empire East, one of the most robust and premier distribution markets in the country.
"The acquisition of this industrial property in a prime submarket reflects our strategic vision and bolsters our portfolio with a highly sought-after asset,” stated Tom Shapiro of TA Realty LLC.
Rider Business Centers’ 11.18-acre site features excellent access to the 91 freeway, I-215, I-15 and I-10 Interchanges, the Long Beach/Los Angeles port system, three airports, UPS/FedEx Hubs, and the BNSF intermodal yard.
“The location, building quality, and site functionality were key factors that made this asset highly sought after by investors," stated Jon Kelly, Senior Vice President, and Managing Director for Core5. "Core5 was uniquely positioned to finalize this deal with a reputable buyer." Kelly added “with the slowdown in new development starts and increase in tenant activity, Core5 remains bullish in the Inland Empire industrial real estate market which historically has been one of the strongest industrial markets in the nation.”
Core5 was represented on the investment sale by Michael Chavez, David Nguyen and Valentina Cadogen of Lee & Associates.
“We are pleased to be a part of the successful disposition of Rider Business Center. This transaction represents the culmination of aligning the perfect buyer with our client's needs. It was achieved through combined marketing efforts, extensive network, and the negotiation of favorable terms benefiting all parties involved. We are thankful for the trust our clients have placed in us and remain committed to providing dedicated service and value in every transaction,” remarked Michael Chavez, Principal with Lee & Associates in Ontario.
About Core5 Industrial Partners
Core5 Industrial Partners is an industrial real estate property company with expertise in development of Class-A properties featuring the latest innovations throughout the United States. Headquartered in Atlanta, Georgia, Core5 has development activity in Atlanta, Cincinnati/Northern Kentucky, Columbus, Dallas, Houston, Indianapolis, Los Angeles/Inland Empire, Louisville, Maryland, Memphis, Nashville, Pennsylvania, Phoenix, San Antonio, Savannah and South New Jersey with expansion plans to additional key logistic hubs in the US. Founded in 2015, the company has developed or begun construction on 50 million square feet since inception.
Immediate access to capital, coupled with the ability to financially support deals on their balance sheet without utilizing third party resources on most transactions, Core5 executes quickly without layers of bureaucratic, time-consuming processes. The company is privately held by over 180-year-old Japanese-based Kajima Corp – one of the world’s largest A credit-rated construction companies with whom C5 leadership has sustained a 30+ year working relationship.
Named for its five core principles, the company values are centered around a highly flexible entrepreneurial spirit promising follow through on commitments with an emphasis on relationships, excellence in quality, attention to detail and quick decision making. For more information on Core5 Industrial Partners, visit www.c5ip.com.
About Lee & Associates
Lee & Associates, the largest broker-owned firm in North America, has been providing seamless, consistent execution and value-driven market-to-market services for our clients since 1979.
Our real estate services are tailored to exceed the needs of our local, national, and international clients by combining the latest technology, resources, and market intelligence with over 40 years of expertise to optimize results.
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