Done Deals: HFF closes $23 million transaction for new Southern California Class A industrial development

Sunday, November 16, 2014

HFF closes $23 million transaction for new Southern California Class A industrial development

Catawba Distribution Center, Fontana, CA

IRVINE, CA – HFF announced it has closed on a $23 million transaction for the development of Catawba Distribution Center, a 310,550-square-foot, future Class A industrial distribution center located east of Los Angeles, California, in Fontana within the Inland Empire West submarket.

HFF exclusively marketed the investment for Xebec Realty Partners and awarded the project to a large, discretionary real estate fund upon negotiating a successful forward structure between the two parties.

Ryan Martin

Catawba Distribution Center is a fully-entitled, future industrial development located on 13.78 acres at the northwest corner of Santa Anna Avenue and Catawba Avenue in Fontana, approximately 12 miles from LA/Ontario International Airport with easy access to Interstate 10.

The institutional quality industrial warehouse will include 32’ clear heights, a 180’ secured concrete truck court and 35 dock-high positions with 59 trailer positions. Catawba Distribution Center is scheduled for completion in August 2015.

The HFF team was led by senior managing director Anthony J. Brent and managing director Ryan Martin.

“The transaction was structured as a forward commitment and is representative of the demand for quality core distribution product,” Brent said.

“With vacancies declining and rents increasing within the Inland Empire markets, especially within the 300,000-square-foot category, the development attracted a variety of large funds.”