Ivanhoe Cambridge Invests in Hot Inland Empire Logistics Market
By Randyl Drummer | August 23, 2018
Developer Ivanhoe Cambridge is pushing into one of the nation’s strongest warehouse markets, Southern California’s Inland Empire, as part of a move to double its holdings in North America’s hottest commercial property type.
The Montreal-based real estate investor said it bought two prime pieces of land totaling roughly 150 acres where it plans to build a massive industrial campus south of Ontario International Airport, about 35 miles east of downtown Los Angeles.
CapRock Partners, a Newport Beach, California-based developer, sold the adjacent properties to Ivanhoe. An Ivanhoe spokeswoman declined to disclose the sale price but called it “very competitive.”
The deal is part of a plan previously announced by Ivanhoe to double its industrial holdings this year to US$3 billion.
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