Sale of Class A, 104,500 SF institutional industrial property in Inland Empire closes

LOS ANGELES, July 11, 2024 – JLL Capital Markets announced today that it arranged the sale of 19949 Kendall Dr., a fully leased, Class A industrial building totaling 104,500 square feet in San Bernardino, California.

JLL worked on behalf of the sellers, Bixby Land Company and a global investment manager, and procured the buyer, Overton Moore Properties (OMP).

Currently leased to a single-tenant, the property was built in 2008 and is situated on 5.07 acres, offering 30-foot clear heights, 15 dock-high doors, four grade-level doors, an ESFR sprinkler system and a fully secured 140-foot truck court with multiple points of access.

Additionally, the property is located within the ultra-core Inland Empire, which has exceptionally low vacancy, strong and continuous rent growth, overwhelming tenant demand and high barriers to entry. This strategic location also provides tenants with access to Southern California’s massive growing population, major transportation corridors and critical distribution and logistics hubs.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors Mark Detmer and Patrick Nally, Managing Director Ryan Sitov and Senior Director Evan Moran. The JLL Capital Markets Debt Advisory team was led by Executive Managing Director Kevin Mackenzie and Senior Managing Director Brian Torp. The Inland Empire Markets Team was led by Executive Managing Directors Mike McCrary, Patrick Wood and Senior Managing Directors Ruben Goodsell and Jeff Bellitti.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Bixby Land Company is a leading commercial real estate owner, operator, and investment manager with over $1.5 billion of assets under management. The company develops and invests in industrial, office, and R&D properties throughout the United States. For over 125 years, Bixby has been committed to adding value for its shareholders and investors. Additional information about the company can be found at bixbyland.com.

Overton Moore Properties (OMP) is one of the most active industrial developers in Southern and Northern California along with Las Vegas, Phoenix, and Salt Lake City. Founded in 1972, OMP is a premier, full-service, commercial real estate company based in Southern California. Since 2000, OMP has acquired and developed more than 31 million square feet totaling over $4.2 billion in total capitalization. Currently, OMP is developing or operating over 21 million square feet of state-of-the-art industrial buildings across the Western United States. For further information, visit omprop.com.