MDH Partners is picking up more industrial space in the Inland Empire. In a deal that took place earlier this month, the company acquired a 147,351 square foot industrial property for $25.1 million, or about $170 per square foot. The seller in the transaction was TA Realty, according to public property records.
The property is located at 17618 Harvill Ave in Perris and consists of one warehouse building on more than nine acres. The building was developed in 2017 and is currently occupied by Hardwoods Specialty Products, a wholesale distributor of hardwood lumber, plywood, MDF, TFL, particleboard and other products.
The property is located just off Interstate 215 near the March Air Reserve Base, which is home to a number of industrial properties, including Amazon, Deckers, an O’Reilly Auto Parts distribution center and more
The property’s new owner, MDH Partners, was founded in 2005 and has since participated in more than $6 billion worth of real estate acquisitions, developments and asset management. Currently, the firm manages approximately $1 billion worth of assets under management and the company’s portfolio spans approximately 35 million square feet across 30 cities, according to its website.
In addition to the recently acquired property in Perris, MDH Partners also purchased another industrial property down the road at 21500 Harvill Ave. The 333,572 square foot industrial asset was purchased for $112.25 million, or about $337 per square foot, from Blumenfeld Development Group.
