Industrial

SAN BERNARDINO, CALIF. — Voit Real Estate Services has arranged the sale of a newly developed industrial warehouse building located at 2705 Lexington Ave. in San Bernardino. A partnership between Hartford, Conn.-based Penwood Select Industrial Partners III and Newport Beach, Calif.-based Shaw Development Partners sold the property to a global consumer products company for $18.2 million. The 154,451-square-foot facility features 2,200 square feet of office space, an ESFR sprinkler system, a secured concrete truck court and electrical service of 1,200 amps. The buyer plans to use the property for its own operational and distribution needs. Frank Geraci, Juan Gutierrez and Adam Geiger of Voit’s Inland Empire office represented the seller in the transaction.

RIVERSIDE, CALIF. — Invesco Real Estate has purchased Meridian Distribution Center II, located at 22000 Opportunity Way in Riverside. Sun Life Assurance Co. of Canada, through its advisor Bentall Kennedy, sold the property for an undisclosed price. Newcastle Partners completed construction of the 503,592-square-foot property earlier this year. Situated on 26.9 acres, the facility features 36-foot interior clearance, 88 dock-high doors, 150 trailer parking stalls and 217 car parking spaces. The property is part of the master-planned Meridian Business Park, an industrial campus comprising more than 1,290 acres west of the Interstate 215 Freeway. At build out, the campus will feature 16 million square feet of space. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield’s Ontario, Calif., office worked with Jeff Chiate, Jeffrey Cole, Mike Adey and Ed Hernandez of Cushman & Wakefield’s Capital Markets team in Irvine, Calif., to represent the buyer and seller in the transaction.