Colton, CA, US: CR England has signed a 10-year truck terminal industrial lease for a property in Colton, California.
The transaction will allow the temperature-controlled carrier to expand from its Mira Loma, California location.
Lee & Associates brokered the $14.5 million deal.
The 34.4-acre truck terminal property is located close to the 10 and 215 Interstates as well as Highway 60, making it highly desirable. Other tenants include Fed Ex, Cooper Lighting, Simpson Manufacturing, Exel Logistics, Bob Hubbard Transportation, Pro Build, Razor Scooters and Living Spaces.
“Competition from developers for larger sites like the Riverside Avenue property was our biggest challenge. What became clear during our market analysis and time spent with CR was the 34.36-acre site in Colton was a standout; in many ways a turnkey operation built to the highest standards and specifications made it the right fit for our client,” said Ryan Lal of Lee & Associates, in a statement.
Lal and Jeff Smith, both of Lee & Associates’ Ontario, Calif office, represented CR England. “Our focus on securing the property along with strong support from CR England and their willingness to recognize the need to move quickly allowed us to communicate the right message to Heitman and ultimately convince them to proceed with maintaining the site as a trucking facility and leasing it to CR,” Lal said.
