IE Business Daily Business news for the Inland Empire.
A large warehouse-distribution complex in San Bernardino has been sold.
The Cajon Distribution Center, which covers 830,750 square feet at 6207 N. Cajon Blvd., was sold to DHL for an undisclosed sum, according to a statement released Monday.
Westcore Properties, a commercial real estate investment company in San Diego, was the seller. DHL is an international courier, parcel and express mail service that is part of Deutsche Post DHL in Bonn, Germany.
DHL, which made an unsolicited offer for the property, was represented by CBRE in the sale negotiations. Westcore Properties, which owned Cajon Distribution Center for about one year, represented itself.
DHL will occupy the facility “over time” and use it to serve its long-term clients, according to the statement.
“We remain very bullish on the Inland Empire industrial market,” said Don Ankeny, Westcore’s president and chief executive officer, said in the statement. “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.”
Hewlett Packard, JC Penney and FedEx operate logistics facilities near Cajon Distribution Center, according to the statement.
