Burlington Acquires Riverside Distribution Center for $257 Million
- Share via
Burlington Distribution acquired the 889,445-square-foot warehouse at 21600 Cactus Ave. in Riverside from BlackRock for $257 million, or $289 per square foot. BlackRock was represented by CBRE and Burlington was represented by Mark Zorn and Cory Whitman of Colliers.
“The Inland Empire industrial market continued to see elevated demand in Q4 2024, with leasing activity surpassing 10 million square feet for the third consecutive quarter,” said Mark Zorn, in a statement.
Burlington has been the sole tenant since the building was constructed in 2019 on a site that BlackRock acquired for $117 million in 2017. The warehouse features a clear height of 40 feet and 220 dock doors.
Burlington has been in expansion mode as it opens new stores and vertically integrates distribution operations by acquiring warehouse properties. It plans to open approximately 100 net new stores in 2025, according to a recent earnings call.
Information for this article was sourced from Colliers.
