Bridge Logistics Properties Buys 21-Acre Santa Fe Springs Truck Terminal Leased to XPO

Off-market acquisition combines irreplaceable logistics infrastructure with long-term redevelopment optionality

Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings LLC, acquired a 21.3-acre truck terminal in Santa Fe Springs located at 12903 Lakeland Road. The site is fully leased to XPO Inc., a freight transportation company. The off-market transaction was coveted for its potential as a long-term redevelopment opportunity in one of Los Angeles County’s most supply-constrained industrial markets.

BLP acquired the property at roughly half of today’s comparable land value. The entry basis creates significant long-term flexibility, giving it the ability at lease expiration to retain and re-lease the existing improvements or pursue redevelopment of the site.

“This is exactly the type of opportunity we look for in Southern California, an irreplaceable infill site, critical logistics infrastructure and a basis that gives us significant flexibility over time,” said Paul Jones, managing director of the West Region at BLP, in a statement. “Truck terminals of this scale are extraordinarily difficult to replicate in Los Angeles today. We’re able to own more than 20 acres in a premier logistics location at roughly half of current land values, while benefiting from durable in-place income and preserving multiple paths for the property at lease expiration.”

The low-coverage site includes an approximately 114,000-square-foot cross-dock terminal with 130 dock-high positions, 16 grade-level doors and approximately 800 auto and trailer stalls. Located near the I-5 and I-605 freeways, the property provides connectivity throughout Southern California and to the Ports of Los Angeles and Long Beach. The secured facility also includes a maintenance building and truck scale and currently operates without hours-of-use restrictions.

The existing truck terminal use is increasingly difficult to replicate, as land scarcity, entitlement friction, rising construction costs and restrictions on outdoor storage have constrained new supply throughout Los Angeles. Facilities of this scale and functionality have become a critical piece of logistics infrastructure in the region, particularly as cities place greater restrictions on new truck-intensive uses.

“The combination of scale and existing terminal infrastructure makes Lakeland Road extremely difficult to duplicate. XPO has operated at the property for over a decade, and the site’s cross-dock configuration, substantial trailer parking and freeway access make it highly functional for high-volume freight operations,” said Grant Moore, vice president of west region investments at BLP, in a statement.

BLP had tracked the property with Colliers for approximately four years before completing the off-market transaction. Jace Gan and Clyde Stauff of Colliers were involved in the transaction.

Information for this story was provided by Bridge Logistics Properties.