Premier Logistics buys 1.5M sq ft

Premier Logistics Properties and Penwood Real Estate Investment Management have bought two industrial buildings in Rialto, California, totaling nearly 1.5 million square feet, according to trade publications that reported the deal on May 22. The properties sit at 1568 and 1660 N. Linden Ave. in the Inland Empire, one of the country’s largest warehouse markets. Link Logistics was the prior owner, according to Yardi Matrix data cited by Commercial Property Executive. Amazon leases both buildings, the publication said. ### Which buildings changed hands? The acquisition covers two neighboring Class A warehouses totaling 1,469,848 square feet on 107 acres in Rialto, according to REBusinessOnline and Commercial Property Executive. The buildings include a roughly 593,000-square-foot facility completed in 2017 and an 855,000-square-foot building completed in 2018. (rebusinessonline.com) Commercial Property Executive said the 1568 N. Linden Ave. building has 106 dock-high doors and three grade-level doors, while 1660 N. Linden Ave. has 74 dock-high doors and two grade-level doors. REBusinessOnline said the portfolio also includes 36- to 42-foot clear heights, full concrete truck courts, employee parking and trailer storage. (rebusinessonline.com) ### Who were the buyer, seller and brokers? Premier Logistics Properties bought the assets in partnership with Penwood Real Estate Investment Management, the reports said. Eastdil Secured’s Steve Silk and Mark Alfert represented the seller, while Bo Mills of KBC Capital Partners represented the buyers. (rebusinessonline.com) Commercial Property Executive identified Link Logistics as the seller, citing Yardi Matrix information. Neither REBusinessOnline nor Commercial Property Executive disclosed a purchase price in the versions reviewed. ### Why does this portfolio fit the buyers’ strategy? Premier Logistics Properties says on its website that it targets high-quality industrial assets in strategic infill and coastal markets, with a preference for buildings above 100,000 square feet and stable cash flow. (rebusinessonline.com) The Rialto portfolio fits that description on both size and location. Penwood says it focuses on low-risk industrial properties in supply-restricted markets and is primarily focused on Southern California, among other logistics regions. (commercialsearch.com) The firm also says it seeks warehouse, distribution, manufacturing, cold storage and high flow-through logistics facilities. ### What does the deal show about the Inland Empire right now? Kidder Mathews said in its first-quarter 2026 Inland Empire market report that direct vacancy reached 7.7% and availability 12.7%, while leasing activity totaled 7.5 million square feet. (premierlp.com) The brokerage also said private buyers accounted for about 50% of sales activity and that investors were operating selectively. (penwoodre.com) The same report said average asking rents fell to $0.97 per square foot triple net in the first quarter, down 6.7% from a year earlier, while gross leasing still exceeded 48 million square feet. That combination points to a market with more tenant leverage than during the pandemic-era run-up, but continued demand for modern distribution space. ### Why does Rialto matter in this market? (kidder.com) Rialto sits in Inland Empire West, the tighter and more supply-constrained side of the region than many eastern submarkets. Commercial Property Executive said the two buildings are just south of Highway 210 and between Interstates 15 and 215, giving tenants access across Southern California and the Inland Empire. (kidder.com) Kidder Mathews said stabilization in the second half of 2026 is expected to favor Inland Empire West over Inland Empire East as available inventory is absorbed. That makes large infill assets with existing occupancy more notable than speculative projects still looking for tenants. Kidder Mathews said lease-rate stabilization is expected later in 2026 and into 2027, while development remains constrained and more owners pursue build-to-suit opportunities. (commercialsearch.com) Premier Logistics and Penwood now control two Amazon-leased buildings in Rialto as that next phase of the market unfolds. (kidder.com)