Alere Property Group Secures Tesla at Newly Constructed San Bernardino Industrial Development
Fortune 500 company takes occupancy at state-of-the-art distribution facility located along key Southern California logistics transportation routes
Alere Property Group, a leading developer and investor of industrial real estate in Southern California, today announced that American clean energy and electric vehicle company, Tesla Inc. (Nasdaq: TSLA) has signed a lease and taken occupancy at 19640 Cajon Boulevard, Alere’s recently completed 322,000-square-foot industrial development in San Bernardino, Calif. The facility now serves as Tesla’s west coast distribution hub for auto parts, power walls, solar panels and other related items, and is the base of operation for hundreds of employees.
“Alere is pleased to welcome Tesla to its new home in San Bernardino,” said Michael Del Santo, senior vice president of portfolio management, at Alere Property Group. “19640 Cajon Boulevard is designed for the new generation of ecommerce and distribution users, with attributes that are highly sought after yet unique in the Inland Empire’s competitive industrial warehouse market. Alere provides a world-class experience to all of its tenants and will continue to raise the bar for the global logistics industry.”
19640 Cajon Boulevard is a state-of-the-art facility in San Bernardino’s Inland Empire industrial real estate submarket. The asset features 40 feet minimum clear height and cross-dock loading, allowing for efficient racking, storage and material handling. The property includes approximately 5,100 square feet of office space, 52 dock-high doors, two ground-level doors, an extra-large 185-foot truck court and a bonus storage yard.
19640 Cajon Boulevard is located south of the I-15 and I-215 freeway junction, at the base of the Cajon Corridor, providing quick access to Southern California’s primary logistics transportation routes. The junction is a critical connection point for the U.S. supply chain and serves as a gateway to other southwestern metropolitan statistical areas (MSA) such as Las Vegas and Phoenix. Neighboring corporations include FedEx, Hewlett Packard, Bob’s Discount Furniture and XPO Logistics. The region’s main airfreight hub, the San Bernardino International Airport, is also nearby.
“The value of 19640 Cajon Boulevard’s location from a logistics and distribution standpoint is unmatched,” said Ian Carpe, vice president of portfolio management at Alere. “Tesla needed a modern facility with superior linkages to Southern California’s ports and intricate freeway network. Our team is committed to providing corporations with the facilities they require to meet or exceed their distribution goals.”
“Leasing activity in the Inland Empire remains strong, driven primarily by the increased volume at the ports of Long Beach and Los Angeles,” added Carpe. “Amidst the competitive environment, Alere continues to deliver best-in-class, high-quality assets that attract Fortune 500 tenants. We are grateful to the relationships we established at Tesla and look forward to doing business together in the future.”
Rick John, Dan Foye and Gus Andros, SIOR with DAUM Commercial Real Estate Services represented Alere in this transaction. Tesla was represented by Hunter McDonald at CBRE. Terms of the transaction are undisclosed.
Alere owns over 20 million square feet of industrial space within the Inland Empire West and East submarkets. The firm targets large-scale ground-up development opportunities ranging from 25,000 to over 1 million square feet in Southern California. It also seeks core and value-add investment opportunities throughout the region.
About Alere Property Group
Founded in 2003, Alere Property Group is one of the largest and most established owners of industrial real estate in Southern California with a robust portfolio of over 30 million square feet of high-quality industrial space valued at ±$5.5 billion. The Newport Beach-based company is an efficient, vertically integrated operation with capabilities spanning all functions of investment and development. Focused on creating long-term value, Alere builds sleek and modern industrial facilities that exceed expectations in design, functionality and efficiency in locations critical to meeting the complex needs of the world’s most sophisticated e-commerce, distribution and manufacturing corporations. For more information, visit alerellc.com. Follow the company on LinkedIn.