Rockefeller Group has sold one of its newly built warehouses in the Inland Empire to a venture composed of two New York-based investors and a firm based in Los Angeles.
The 333,600-square-foot warehouse in Perris was sold to Blumenfeld Development Group, CH Realty Partners, and Declaration Partners for $57.5 million, records show. The buyers announced the deal last week. Rockefeller did not immediately respond to a request for comment.
Located at 21500 Harvill Avenue, the property is fully-leased for 12 years to Packable, a Carlyle Group-backed e-commerce logistics and marketplace firm that recently agreed to go public through a $1.55 billion-dollar SPAC merger. Packable is a holding company for Pharmapacks.
Packable COO Chris Pfeiffer said in a statement that the property was “well-suited” to the firm’s West Coast expansion plans.
New York-based Rockefeller finished construction on the facility this year. The development is one of two warehouses the firm built on 30 acres in Perris. It bought the land for $20 million last year.
The other distribution facility built at the site totals 289,556 square feet and is currently for sale.
At $172-per-square-foot, the deal is one of the pricier transactions in the Inland Empire recently. The top deal remains Nuveen’s recent $60 million acquisition of a 237,000-square-foot manufacturing facility, which came to $252 per square foot.
E-commerce wholesalers and distributors are still racing to take space across the two-county Inland Empire region. Earlier this month, Duke Realty pre-leased a nearly 200,000-square-foot spec warehouse to Shenzhen-based Yahee Technologies, which supplies furniture and more to Amazon, Walmart, Wayfair and other platforms.