C
abot Properties has acquired a portfolio of four warehouses from Link Logistics, a unit of Blackstone, for $202 million. The Boston-based investor purchased the fully leased properties, totaling 670,000 square feet, in Ontario, Fontana, and San Bernardino. The deal works out to $302 per square foot, making it one of the largest sales in the Inland Empire's industrial market this year.

    The portfolio includes a 263,700-square-foot warehouse at 1670 Champagne Avenue and a 147,500-square-foot warehouse at 1651 South Carlos Avenue in Ontario; a 103,300-square-foot warehouse at 10917 Cherry Avenue in Fontana; and a 154,600-square-foot warehouse at 750 South Valley View Avenue in San Bernardino. Cabot had previously developed three of the properties and sold them to Link Logistics.

    The deal was brokered by Colliers' Michael Kendall, Gian Bruno, Kenny Patricia, Kylie Jones, Thomas Taylor, Steve Bellitti, and Joey Jones on behalf of both parties. This sale is notable as only three other sales in the Inland Empire exceeding 650,000 square feet have included four or more properties over the past five years.

    Cabot's purchase comes after Blackstone Group acquired a portfolio of 124 properties from Cabot across the US and Europe for $2.8 billion in 2021. This year has seen significant industrial transactions in the Inland Empire, including Stockbridge Capital Group's acquisition of an industrial portfolio from Principal Asset Management for $142.3 million.