Rockefeller Group Sells New Inland Empire Distribution Center for $57.5M

IRVINE, Calif. – September 27, 2021 – Rockefeller Group, the U.S. real estate developer, owner and operator, announced today that it has sold Harvill Logistics Center in Riverside County, Calif., for $57.5 million. The new building, which totals more than 300,000 square feet, was acquired by CH/BDG Harvill, LLC, a joint venture partnership between CH Realty Partners LLC and Blumenfeld Development Group.

Rockefeller Group acquired approximately 30 acres of property in Riverside County for the development of two projects totaling 623,109 square feet in September 2020.  The second project, a 289,556-square-foot speculative distribution building, Val Verde Logistics Center, was recently completed and is being marketed for lease or sale. 

“The Inland Empire market continues to show strong demand heading into the third quarter of 2021 as evidenced by our sale of Harvill to a joint venture of CH Realty and Blumenfeld,” said James V. Camp, Senior Managing Director, West Region, for Rockefeller Group.  “We received multiple offers on the property and are pleased that the joint venture has closed escrow on the purchase of the building.”

“CH Realty Partners and Blumenfeld Development are very pleased to have the opportunity to invest in the Inland Empire with Harvill Logistics Center,” said Philip Cyburt, Principal, CH Realty Partners LLC. 

“This deal represents a collaborative effort by all parties, one that not only reveals our respective successes in the marketplace but one that reflects the mutual respect buyer and seller has enjoyed throughout this process,” said David Blumenfeld, a Principal of the Blumenfeld Development Group.  “With this deal now closed, we can begin positioning the building to enable it to create jobs, benefit the local economy and spur additional investment.”

Harvill Logistics Center is the latest successful development for Rockefeller Group in the Inland Empire. Earlier this year, the company sold two recently completed industrial buildings totaling approximately 500,000 square feet for $80.75 million.  Fontana Santa Ana industrial Center, a 297,161-square-foot distribution center, was sold to Haralambos Leasing Company for $54 million and Centerpointe Commerce Center, a 203,944-square-foot distribution center, was sold to Lone Oak – Moreno Valley, L.L.C. for $26.75 million.

Bill Heim and Alex Heim of Lee & Associates represented Rockefeller Group in the sale of Harvill Logistics Center.  Tom Taylor and Steve Bellitti of Colliers represented the buyer.  Herdman Architecture + Design, Inc. designed the project.  RM Dalton was the general contractor.

About Rockefeller Group

Rockefeller Group develops, owns and operates extraordinary properties across the United States.  For nearly a century, the company has delivered exceptional experiences and value creation through dedication to quality in the built environment.  The company’s portfolio spans the development of office, multifamily, industrial and mixed-use projects across six geographic regions as well as significant ownership interest in and management of approximately six million square feet of world-class office space in Manhattan.  Visit RockefellerGroup.com.

About CH Realty Partners

CH Realty Partners LLC (“CHRP”) is real estate development firm based in Los Angeles that is focused on land and ground up industrial investment development opportunities in the western US.  CHRP currently owns and is developing approximately 1,200 acres of industrial / commercial land that affords over 11 million square feet of industrial development rights located in the Southern California Inland Empire market.  The principals of CHRP have a long history in land and business park development along with large scale project management of complex entitlement rezoning coordination within the broader California markets.  CHRP have institutional capital investors that seek value-add opportunities within the industrial real estate space. 

About Blumenfeld Development GroupBlumenfeld Development Group, Ltd. (“BDG”) is a full-service real estate development firm with a development portfolio that features regionally significant projects, entertainment-based retail, multi-tenant office, medical office, industrial and multifamily-residential. BDG’s fully integrated team allows for seamless packaging of all services, including those related to leasing, acquisitions, property management, construction, permits and approvals, architectural and engineering design, and user operational planning. This holistic approach toward real estate has enabled BDG to prosper over its four-decade history. BDG brings a client-centered approach to every project. This fundamental tenet, when combined with a highly specialized team of real estate professionals, produces unparalleled levels of service. Over one hundred fifty years of combined experience in acquisitions has endowed the firm with an extraordinary sense of value.  BDG employs over fifty people in three New York offices and controls approximately four million square feet of real estate.

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