It might be in the middle of the Mojave deserted and hit the least sexy segment of the real estate business. And the buyer might trade in goods that simply don\u2019t cut it with the Wall Street set.<\/p>\n
But the substance of a $257 million payday no doubt makes up for a lot of missing style points on BlackRock\u2019s deal to sell off an Inland Empire distribution hub to the discount retail brand formerly known as Burlington Coat Factory.
\nThe retail chain, now known simply as Burlington, had been a tenant at the nearly 900,000-square-foot facility since it opened in 2019, the Commercial Observer reported.<\/p>\n
The deal for almost $286 per square foot is the latest in a trend that has seen big tenants of warehouse and logistics centers buy spaces they\u2019ve been renting for years.
\nThe Inland Empire is a major market for the segment, criss-crossed by interstate highways, local freeways, and rail lines that link to the two giant seaports and various air cargo facilities in Southern California. The facility that Burlington bought, for example, is at 21600 Cactus Avenue in the city of Riverside, within 2 miles of the 15 and 215 Freeways, and about 10 miles from the 10 Freeway.<\/p>\n
The region, which takes in San Bernardino and Riverside counties on the eastern flank of Los Angeles, ran white hot for industrial space during the pandemic before cooling off more recently.
\nDemand is once again ticking up, according to Mark Zorn of Colliers, who represented Burlington along with Cory Whiteman.<\/p>\n
The market saw elevated demand in the fourth quarter, with leasing activity surpassing 10 million square feet for the third consecutive quarter, Zorn said.<\/p>\n
The sale of the Inland Empire hub to Burlington for $257 million signifies a strategic move in the industrial real estate sector, driven by the increasing demand for logistics and distribution spaces. This trend is likely to continue as companies seek to optimize their supply chains and leverage the strategic location of the Inland Empire for their operations.<\/p>\n
A: Burlington, the discount retail brand formerly known as Burlington Coat Factory, bought the hub.<\/p>\n
A: The deal cost $257 million.<\/p>\n
A: The facility is nearly 900,000 square feet.<\/p>\n
A: The facility is located at 21600 Cactus Avenue in the city of Riverside.<\/p>\n
A: The market is seeing elevated demand, with leasing activity surpassing 10 million square feet for the third consecutive quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"
BlackRock Sells Inland Empire Hub to Burlington for $257 Million Introduction to the Deal It might be in the middle of the Mojave deserted and hit the least sexy segment of the real estate business. And the buyer might trade in goods that simply don\u2019t cut it with the Wall Street set. Details of the […]<\/p>\n","protected":false},"author":3,"featured_media":11684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-11683","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-real-estate"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/static.therealdeal.com\/wp-content\/uploads\/2025\/04\/BlackRock-Sells-Inland-Empire-Hub-to-Burlington-for-257-Million-f-700x496.jpg?w=1920&resize=1920,1344&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/posts\/11683"}],"collection":[{"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/comments?post=11683"}],"version-history":[{"count":1,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/posts\/11683\/revisions"}],"predecessor-version":[{"id":11685,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/posts\/11683\/revisions\/11685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/media\/11684"}],"wp:attachment":[{"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/media?parent=11683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/categories?post=11683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/tags?post=11683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}