American Realty Acquires Class A Industrial Space

American Realty Advisors announced this week that it had acquired 10825 Production Avenue in Fontana, CA, part of the Inland Empire. Terms of the deal were not disclosed, but Cushman Wakefield listed the property as one of its significant lease hilights in 3Q 2007. American's Chairman and CEO, Stanley L. Iezman, stated, "Continuing innovations in large-scale supply chain management have increased demand for the highly functional space offered by 10825 Production Avenue. With less than 2% vacancy in industrial properties greater than 500,000 SF in this market, the scarcity of core-quality assets like this will likely generate strong rent growth and tenant demand during the asset's anticipated holding period and is expected to generate superior returns for our clients. This acquisition reflects our commitment to enhancing our clients' portfolios with best-in-class assets in high-performing markets across the U.S."

Built in 2006, the 753,170 square foot low-rise building was designed by GAA Architects Inc. for $30 million according to an Emporis listing. 10825 Production Avenue is home to the California Distribution Center for Lifetime Brands which has leased 100% of the property. The building is situated on 29.8 acres in the Sierra Business Park, a 200+ acre master-planned industrial complex, and offers tenants enhanced amenities, extensive landscaping, and a campus-like environment.

For more news and information visit Blumberg Capital Partners.

Hillwood and Clarion JV to Develop Amazon Fulfillment Center

Hillwood and Clarion Partners announced this week that it will partner in a joint venture to develop a 950,000 square foot facility as part of the AllianceCalifornia project that will serve as a fulfillment center for Amazon once completed later this year. The development in San Bernardino, California will be located on Central Avenue, east of Tippecanoe Avenue. Hillwood will serve as the developer for the project, while the JV will serve as the landlord for the facility, leasing space to Golden State FC LLC once the building is complete. Golden State will then operate the fulfillment center for Amazon. Meanwhile, USAA Real Estate Co. will develop a fulfillment center of about 1 million square feet in Patterson, a city along Interstate 5 in the Modesto metro area according to a CoStar report.

"We've been planning to develop this property for some time, and we're thrilled that Amazon will be moving in after the facility is completed," said John Magness, Senior Vice President, Hillwood and leader of Hillwood's Inland Empire office. "We appreciate all the support from the community, and we look forward to Amazon starting operations in San Bernardino."

"We are excited to be a part of this project and we look forward to a long and successful relationship with Amazon and the community," said Stacey Magee, Senior Vice President/Regional Manager for Clarion Partners.

"We appreciate Hillwood and Clarion's ongoing work and thank Governor Brown and state and local officials for their support, which will allow us to create more than 1,000 full time jobs with benefits in San Bernardino when the facility begins shipping to customers," said Dave Clark, Amazon vice president, global customer fulfillment.

For more news and information visit Blumberg Capital Partners.