Birtcher Anderson & Davis Associates, Inc. (“BA&D”) and Belay Investment Group (“Belay”) announced the acquisition of the rebranded Birtcher Business Park @ Bellegrave, a six-building multi-tenant industrial business park located at 10278-10250 Birtcher Drive, Jurupa Valley, CA. BA&D was able to acquire this highly desirable 121,320 square foot property through its partnership with Belay for an undisclosed figure.
Cushman & Wakefield Investment Advisors’ Jeff Cole and Nico Napolitano represented the Seller.
“We are excited to expand our presence in the Inland Empire industrial market with the acquisition this multi-tenant property in Jurupa Valley”, said Daniel Karcher, President of Birtcher Anderson & Davis. “We have developed and sold more than 20 buildings ranging from 6,000 to 82,000 square feet in Jurupa Valley, and we are pleased to add this 121,320-square-foot business park to our portfolio. The property is strategically located to serve the growing demand from small businesses in Southern California. With limited supply of similar projects and no new competitive developments planned or under construction due to rising construction costs for small-tenant projects, we anticipate sustained rental growth and high occupancy throughout our investment period.”
“We are pleased to announce this latest acquisition through our partnership with Birtcher and believe that the Bellegrave investment encompasses the major targets of our multi-tenant industrial strategy given its attractive entry basis at below replacement cost, strong value-add potential, diversified rent roll, and positioning in one of the top infill industrial markets in the U.S. We are excited to seize upon yet another favorable investment opportunity with Birtcher and look forward to working alongside them in the execution of a new business plan” said Eliza Bailey, Co-Founder, CEO & CIO of Belay Investment Group.
“Belay is excited to have executed on its sixth investment with Birtcher, which to date includes approximately $220 million in total capitalization and 1.7 million square feet of multi-tenant industrial acquisitions throughout Southern California, Texas and Florida” said Jake Loughridge, Managing Director of Belay.
The property features varied bay sizes, ranging from 500 square feet to 10,678 square feet, all with grade-level loading. The property accommodates a wide range of configurations among its 24 suites giving tenants the opportunity for growth and expansion as well as providing private fenced yard areas.
