Atlanta-based Core5 Industrial Partners announced today the sale of Rider Business Center, a 248,483-square-foot freestanding modern logistics facility to TA Realty LLC. The project completed construction in March 2024 to Class A construction specifications and incorporates the latest in technology with 36’ vertical clear height, 3% skylights, LED lighting, 146 auto parking spaces and first floor office space. Rider Business Center is in the Inland Empire East, one of the most robust and premier distribution markets in the country.
“The acquisition of this industrial property in a prime submarket reflects our strategic vision and bolsters our portfolio with a highly sought-after asset,” stated Tom Shapiro of TA Realty LLC.
Rider Business Centers’ 11.18-acre site features excellent access to the 91 freeway, I-215, I-15 and I-10 Interchanges, the Long Beach/Los Angeles port system, three airports, UPS/FedEx Hubs, and the BNSF intermodal yard.
“The location, building quality, and site functionality were key factors that made this asset highly sought after by investors,” stated Jon Kelly, Senior Vice President, and Managing Director for Core5. “Core5 was uniquely positioned to finalize this deal with a reputable buyer.” Kelly added “with the slowdown in new development starts and increase in tenant activity, Core5 remains bullish in the Inland Empire industrial real estate market which historically has been one of the strongest industrial markets in the nation.”
Core5 was represented on the investment sale by Michael Chavez, David Nguyen and Valentina Cadogen of Lee & Associates.
“We are pleased to be a part of the successful disposition of Rider Business Center. This transaction represents the culmination of aligning the perfect buyer with our client’s needs. It was achieved through combined marketing efforts, extensive network, and the negotiation of favorable terms benefiting all parties involved. We are thankful for the trust our clients have placed in us and remain committed to providing dedicated service and value in every transaction,” remarked Michael Chavez, Principal with Lee & Associates in Ontario.
