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DENVER, April 01, 2019 (GLOBE NEWSWIRE) -- Black Creek Group, a Denver-based real estate investment manager and development firm with a 25-year history, today announced the execution of two leases totaling 1.2 million square feet within its California holdings. Included in these transactions are full-building leases for Arrow Route DC, a 612,000 square-foot, recently-completed Class A development in the Inland Empire West, and Waterman DC, a 554,000 square-foot Class A facility in the Inland Empire East. These leases bring the firm’s approximately 11.2 million square-foot California industrial footprint to 93.5 percent leased.
“The completion of these leases is a testament to the strong tenant demand we are seeing within the Inland Empire market for well-located, Class A industrial facilities,” said Scott Recknor, head of asset management at Black Creek Group. “We developed both buildings to meet the continued robust need for state-of-the-art space within the market and the quick lease up of both, with Arrow Route leasing two months after construction completion, not only demonstrates that need, but also showcases the strength of our development and asset management teams.”
Arrow Route DC is ideally located with direct access to I-15, I-10 and the 210 freeway. The tenant, a leading furniture manufacturer and distributor, will take occupancy in Q2 2019.
Waterman DC is in close proximity to the I-10 and I-215 freeways. The tenant, a global logistics provider, took occupancy in Q1 2019.
For the Arrow Route DC lease, Black Creek Group was represented by Ian & Chris DeVries of Colliers and the tenant was represented by Arie Salomon, Nick Chang and Richard Lee of NAI Capital. For the Waterman DC lease, Black Creek Group was represented by Jeff Smith, Ryan Lal and Austin Hill of Lee and Associates and the tenant was represented by Steve Shields of TPC and Mike Chavez of Lee and Associates.
About Black Creek Group
Black Creek Group is an experienced real estate investment management and development firm that has bought or built over $18 billion of investments over its 25-year history. The firm manages diverse investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily – providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has nine offices across North America with more than 300 professionals. More information is available at www.blackcreekgroup.com.
Contact: Greg Joslyn
The Lowe Group