IDI Logistics Sells Another Planned Warehouse in California for $107M

IDI Logistics has unloaded another planned warehouse in Southern California as it cashes out on the demand for industrial and logistics space.

DSV Air & Sea, a transport and logistics company based in Denmark, put down about $107 million to acquire a 65.6-acre property and its entitlements to build a 1.4 million-square-foot distribution building in the Inland Empire. 

The entitlements are for the second building at the planned Perris Logistics Center South, and the deal closed six days after IDI Logistics sold the land and plans for Building 1 — a similarly sized distribution facility next door — to Anatolia Capital for $98.9 million.

Data firm Vizzda provided details on both sales. Neither IDI nor DSV returned requests for comment.

The logistics center is at the southwest corner of Goetz and Mapes roads in Perris, Calif. Building 2 will include a 20,000-square-foot office, as well as a truck court and spaces for 397 cars and 316 trailers.

Ivanhoé Cambridge and Oxford Properties acquired IDI Logistics for $3.5 billion in 2019. The entity recently became more active selling properties in Southern California’s industrial market after recently disposing of an 800,000-square-foot warehouse leased to Home Depot to Blackstone’s Link Logistics for $183.8 million in December 2023.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.