On September 27, 2018, Westcore Properties announced the sale of the 277,270-square-foot March Air Logistics Center, an air cargo and industrial facility at the March Inland Port (formerly March Airforce Base). Dallas, Texas-based Crow Holdings Industrial purchased the facility located at 17101 Heacock Street in Riverside, California.
The property has direct runway access to March Inland Port, as well as to one million square feet of ramp area for aircraft taxiway and parking, and offers extensive trailer parking. The fully secured property includes two guard houses. Other building features include cross-dock loading, 31- to 33-foot clear height, 112 dock high loading doors and an 8,000-amp electrical panel. Crow Holdings will have the option of expanding at the north and south ends of the building as well as leasing up 170,800 square feet of the space. The property is designated part of a Foreign Trade Zone.
Westcore purchased the property in 2014 for $17M, and sold it to Crow Holdings Industrial for an undisclosed sum. “Through an existing relationship with Crow Industrial, we knew that this property would align with Crow’s acquisition criteria,” said Hack Adams, senior vice president at Westcore. “It’s a tremendously unique property with enough space to park eight Boeing 747-400 aircraft.” Jim Koenig, David Consani and Katrin Gist of CBRE represented Westcore in this off-market transaction, while Crow Holdings represented itself.
“The March Inland Port is home to one of the most sustainable and progressive business centers within California,” added Lauren Suazo, director of leasing at Westcore. “Its airport fees for aviation operations and service vendors are some of the lowest in Southern California, which will be a strong draw for tenants.”