Atlanta-based IDI Logistics has broken ground on Brea Logistics Center, a 108,125-square-foot project at 201 N. Berry St.
The new development, a few blocks north of the Riverside (91) Freeway, close to Albertsons’ sprawling distribution center in the city, comes as demand for new industrial development in Orange County hits new highs, with “new construction often seeing strong interest from prospective tenants and commanding higher than average market rents,” according to a brokerage report by CBRE Group Inc.
It’s IDI Logistics’ only local project currently in the works, for now.
The company, which typically builds in infill markets in Los Angeles and Northern California, acquired a vacant neighboring site on South Berry Street at the end of last year, signaling another new industrial project could be in the works.
Brea Logistics Center
IDI Logistics acquired the 5.2-acre North Berry site at the end of 2019 for $13.3 million.
Situated near the intersection of North Berry Street and West Lambert Road, the parcel held an 80,000-square-foot industrial property that’s being demolished to make way for the new development.
An affiliate of Houston-based NOV, or National Oilwell Varco LP, was the tenant and seller, trading the property for about $2.6 million per acre and relocating to the Inland Empire.
Brea Logistics Center will have one building on the site, along with 129 parking spaces.
Neighboring Potential
Across the street, IDI Logistics acquired a 6.2-acre parcel at 114 S. Berry for $24.1 million, or $3.9 million per acre.
It bought the site at the end of last year from the tenant, Blaine Convention Services, which vacated the 109,060-square-foot facility prior to the sale.
IDI’s plans for the site have yet to be disclosed.
The company is reported to have one other local property in its portfolio at 6600 Valley View St. in Buena Park.
North County Development
According to CBRE, there is nearly 900,000 square feet of industrial space currently under construction in the county, representing less than 0.4% of the region’s existing inventory.
Brea Logistics Center represents about half the total square footage of inventory under construction in North County.
Among larger projects in Orange County that have yet to break ground: a 1.5 million-square-foot logistics site to be built at the former Kimberly-Clark tissue paper manufacturing site in Fullerton.
Plans have been in the works since the end of 2019 when it sold for $202 million.
