Dalfen Industrial has acquired a new, 95,922 square foot industrial property in Moreno Valley, CA in the Inland Empire. Per a recent CBRE publication, the Inland Empire had the top year-over-year growth of any market in the country, securing its positioning among the most compelling markets for institutional investment.
Moreno Valley Logistics Center is situated less than 3 miles to I-215, providing access south to San Diego and north to I-10. It is also in close proximity to SR-CA-60 and CA-SR-91, enabling east-west connectivity, including to the Port of Long Beach/Port of Los Angeles, ±70 miles west. The twin ports see over 40% of all imports into the US and the Inland Empire’s warehouse stock is integral to the US supply chain. Notable tenants in the immediate area include FedEx, Walgreens, Amazon, Lowes and Harbor Freight.
“This high-quality property features incredible access to both the population centers of Southern California and the greater southwest via the I-215 Freeway system. The in-place income provides immediate cash flow with significant upside from the nation-leading market rent growth of the Inland Empire,” says Rich Weiss, Head of Dalfen’s West Region.
“Our Nandina Avenue acquisition features all of the physical attributes that today’s tenants are seeking, and we’re excited to expand our footprint in the Inland Empire. We are eager to acquire more functional and modern buildings as new product delivery tapers off in the near-term,” adds Willis Fries, Dalfen’s Market Lead for the Inland Empire and Los Angeles.
Since entering the California market two years ago, Dalfen has acquired 12 industrial properties.