IE Business Daily Business news for the Inland Empire.
An Inland Empire truck terminal has been sold.
YRC Bloomington Truck Terminal sold for $58.1 million to Realterm/NAT, a logistics company based in Annapolis, Md., said Barbara Emmons, vice chairman with CBRE Group Inc.
The seller was Pacific Industrial LLC, a Long Beach company that buys and manages industrial properties, and a group of institutional investors that was not identified.
CBRE represented both parties in the transaction, which was announced Monday. Emmons described the deal, which took three months to negotiate, as a “straight investment sale,” and said Realterm/NAT has no plans to make changes to the property.
YRC Bloomington Truck Terminal sits on 51 acres at 18298 Slover Ave., in one of the strongest industrial areas of the western Inland Empire. It has two truck terminals, 350 loading doors and is the largest YRC facility in California, Emmons said.
The facility, which is next to Interstate 19 and near the Union Pacific Railroad line, is fully leased to YRC Inc., a subsidiary of YRC Worldwide Inc., one of the largest providers of transportation services in the world.
“It’s a very busy facility, and one of the biggest YRC has in the United States,” said Emmons, a member of the brokerage team that negotiated the sale. “This is a rare opportunity to acquire such a large property in highly desirable Inland Empire West.”
Industrial vacancy on the west end is about three percent, Emmons said.
The transaction returns the property to its former owner: in late 2012, Pacific Industrial bought the truck terminal in Bloomington from Realterm/NAT for $34 million, according to a published report.
