Stream Realty Partners has sold Alder Commerce Center, a nearly 175,000-square-foot warehouse it developed and managed in the heart of the Inland Empire, to BentallGreenOak, on behalf of an institutional investor.
Stream, a national real estate services, development, and investment company, acquired the 8.72 acres of land for the project at 10380 Alder Ave. in Bloomington in April 2019 and received full entitlements in December 2019. The firm’s Industrial Development Services team delivered the 174,780-square-foot industrial building—fully pre-leased—in October 2021. Stream hired Mike Kendall, Executive Managing Director of Investment Services for Colliers International Western Region, to market and sell the project.
“Alder Commerce Center is a great example of being able to leverage Stream’s fully integrated platform— development, construction management, investment management, and property management—to deliver successful opportunities for our clients and partners,” said Scott Sowanick, Managing Director for Stream’s Industrial Development Services Western Division. “Alder is also a great illustration of the integral role that local relationships have across our business and the critical role that those local partnerships will play in the continued expansion of our industrial development business in Southern California.”
The Inland Empire, one of the strongest-performing industrial markets in the country, continues to see record-low vacancy and record-level demand for warehouse space. The region’s proximity to sea, truck, and air points of entry to major population centers has made it a hotspot for companies to build, buy, and lease industrial space with best-in-class amenities.
Next to Interstate 10, Alder Commerce Center offers those in-demand features including 32-inch clear height, 21 dock-high loading doors, two drive-in doors, a 180-foot secured truck court, and both ground-floor and mezzanine office space.