Dalfen Industrial has bought Markham Distribution Center in the Inland Empire.
Located at 212 Markham St. in Perris, California, the 80,5270-square-foot building was built in 2019.
Terms were not disclosed. The address last changed hands in July 2020 for $11.6 million, per Reonomy data.
Located less than three miles to the I-215 freeway, Markham Distribution Center lies about 75 miles east of the Ports of Los Angeles and Long Beach.
FlexiSpot, a maker of standing desks, ergonomic chairs and accessories, is the current occupant. Other major tenants in the area include Amazon, Lowes, Home Depot, General Mills and Walgreens.
Markham Distribution Center marks the eighth West Coast acquisition for Dallas-based Dalfen in the past seven months.
“The Inland Empire is a major West Coast distribution hub with a strong labor pool and same-day delivery capabilities to nearly 22 million people between Los Angeles, San Diego and all the cities in between,” said Dalfen Market Officer Rich Weiss in a statement.
“Adding strategically located West Coast industrial assets is crucial to our growth strategy and ability to provide last-mile distribution facilities in the major U.S. markets,” added President and Chief Investment Officer Sean Dalfen.
The sale comes amid historic demand for industrial real estate in the Inland Empire. The vacancy rate hit an all-time low of 0.7% in the third quarter, according to CBRE Group Inc., and the average asking lease rate reached a record high of $0.91 per square foot per month.