MAT Holdings plans to make the Class A building its West Coast Distribution Center
RIVERSIDE, Calif. – August 28, 2017 – MAT Holdings Inc., a privately held, globally diversified manufacturing, marketing, and distribution company based in Long Grove, IL, purchased a newly constructed Class A, 303,100-square-foot industrial building located at 6975 Sycamore Canyon Blvd. in Riverside, CA. The property was sold by Newport Beach, CA based Investment Building Group for $28.2 million.
MAT Holdings was represented by Chicago area-based Interstate Tenant Advisors along with Brad Gilmer, a principal with Lee & Associates Orange. MAT Holdings plans to make this building its West Coast distribution center.
“After an extensive analysis of buildings for lease and sale in all of the Southern California markets including Los Angeles, Orange County and the Inland Empire (Riverside & San Bernardino Counties), MAT Holdings made the decision the best economic and functional Class A building option was to relocate from Santa Fe Springs (Mid-Cities LA market) to a brand-new distribution building in Riverside (Inland Empire market),” said Gilmer, noting the lack of Class A buildings in the LA-OC industrial markets, coupled with rising prices, is resulting in an exodus of large distribution companies to the Inland Empire.
According to Gilmer, despite increases in drayage costs from Long Beach and Los Angeles ports, the overall economic occupancy costs for buildings in the Inland Empire, more than makes up for this increase in shipping costs.
Lee & Associates Orange provides the commercial real estate user, owner and developer with real solutions to their business and operational space requirements. Lee Orange has 45 plus professionals practiced in selling and leasing of industrial, office, flex, retail, land, medical and research & development properties. Since 1983, we have assisted clients throughout Southern California with a focus on Orange County, Western Riverside County and the Mid-Counties area of Los Angeles. For the latest news from Lee & Associates Orange, visit Lee & Associates Orange or follow us on Facebook, LinkedIn, Google+ and Twitter.