iDC Logistics Takes 553K SF Near Busy US Ports
The leases are located in Southern California and Georgia
By Greg Cornfield March 24, 2022 7:55 pmreprints
Demand for logistics real estate is sky-high, particularly in America’s port cities, entering the spring.
National third-party company iDC Logistics is the newest big user to add more space with two new industrial leases — one in Southern California’s Inland Empire, and one in Garden City, Ga. — for a total of more than 553,000 square feet. CBRE (CBRE) announced the leases and represented iDC in them.
Chartwell Real Estate owns the Inland Empire facility located at 10840 Cherry Avenue in the city of Fontana, Calif., in San Bernardino County. iDC will occupy all 189,523 square feet of new Class A industrial space.
“With the Southern California industrial vacancy rate below 1 percent, as well as customer and supply chain volatility, it was crucial for us to have a deep understanding of iDC’s changing needs and help align their business with the optimal real estate strategy,” said CBRE’s Jeff Vertun.
AEW Capital Management is the landlord at the Georgia property, which is located at 1516 Old Dean Forest Road. It spans 364,250 square feet adjacent to the Garden City Terminal at the port of Savannah, one of the country’s fastest-growing container ports.
“These facilities will allow us to continue to deliver best-in-class logistics solutions tailored to our customers’ unique needs, as they ship to some of the largest retailers in the world,” iDC Logistics CEO Elton Chung said in a statement.
iDC Logistics will be fully operational in both buildings in the first half of 2022, CBRE said. Vertun, along with CBRE’s Lauren Peddicord, Joe Werdein and Jacob Westfall completed the leases for iDC. It wasn’t immediately clear who represented Chartwell.
Gregory Cornfield can be reached at email@example.com.