{"id":37070,"date":"2023-10-26T12:46:02","date_gmt":"2023-10-26T09:46:02","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=37070"},"modified":"2023-10-26T22:27:09","modified_gmt":"2023-10-26T19:27:09","slug":"blue-owl-buys-big-lots-warehouse","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/blue-owl-buys-big-lots-warehouse\/","title":{"rendered":"Blue Owl Completes Largest Inland Empire Warehousing Acquisition in 2 Years"},"content":{"rendered":"

New York City-based Blue Owl Capital\u00a0is in the midst of completing the largest single-property industrial acquisition in the Inland Empire, Calif., warehousing market in more than two years. The asset management company dished out a staggering $219 million<\/a> for the LEED-certified Watson Logistics Center in Apple Valley, Calif.<\/p>\n

The move to acquire the 1.3-million-square-foot warehousing space is part of a larger sale and leaseback agreement with affiliates of Blue Owl Capital for a portfolio that also includes 26 store locations.\u00a0The deal is scheduled to close within 45 days subject to continued due diligence, final documentation and other customary closing conditions.<\/p>\n

Located at 18880 Navajo Road and neighboring another large-scale\u00a0Wal-Mart\u00a0distribution facility, the property had previously changed hands in March, when Wells Fargo acquired the asset<\/a> off an unknown buyer. Spread across a massive 106 acres, Watson Logistics Center had been earmarked by Big Lots for liquidation as the retailer sought to shed underperforming properties across southern California.<\/p>\n

Big Lots then used $101 million of the sale proceeds to lease back the distribution center for 20 years.<\/p>\n

\u201cWe are pleased to have reached a definitive agreement with Blue Owl for the sale and leaseback of our\u00a0Apple Valley\u00a0distribution center and the vast majority of our remaining owned stores,\u201d said Bruce Thorn, president and CEO of Big Lots. \u201cAs we discussed on our Q1 earnings call, we are highly focused on ensuring we have plenty of liquidity to get through this period of macroeconomic challenges, and monetizing these assets is a significant step forward in ensuring such liquidity. Blue Owl has been a good partner on our other regional distribution centers, which we sold and leased back in 2020, and we look forward to furthering our relationship through this transaction.\u201d<\/p>\n

CommercialCafe.com gives you access to the latest industrial and warehousing space listings across all major U.S. markets. Use our interactive map and filters to find the best match for your business needs:<\/em><\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t
Los Angeles industrial real estate<\/a><\/td>Dallas industrial real estate<\/a><\/td>Phoenix industrial real estate<\/a><\/td>\n<\/tr>\n
Houston industrial real estate<\/a><\/td>Chicago industrial real estate<\/a><\/td>Denver industrial real estate<\/a><\/td>\n<\/tr>\n
Atlanta industrial real estate<\/a><\/td>Philadelphia industrial real estate<\/a><\/td>Nashville industrial real estate<\/a><\/td>\n<\/tr>\n
Cincinnati industrial real estate<\/a><\/td>Seattle industrial real estate<\/a><\/td>Boston industrial real estate<\/a><\/td>\n<\/tr>\n
New York City industrial real estate<\/a><\/td>Cleveland industrial real estate<\/a><\/td>Fort Worth industrial real estate<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

New York City-based Blue Owl Capital\u00a0is in the midst of completing the largest single-property industrial acquisition in the Inland Empire, Calif., warehousing market in more than two years. The asset management company dished out a staggering $219 million for the LEED-certified Watson Logistics Center in Apple Valley, Calif. The move to acquire the 1.3-million-square-foot warehousing…<\/p>\n","protected":false},"author":56,"featured_media":37072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,41],"tags":[],"class_list":["post-37070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-industrial","wpautop"],"acf":[],"yoast_head":"\nBlue Owl Completes Largest Inland Empire Warehousing Acquisition in 2 Years - CommercialCafe<\/title>\n<meta name=\"description\" content=\"Blue Owl Capital\u00a0is in the midst of completing the largest single-property industrial acquisition in the Inland Empire, Calif., industrial market...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/blue-owl-buys-big-lots-warehouse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blue Owl Completes Largest Inland Empire Warehousing Acquisition in 2 Years\" \/>\n<meta property=\"og:description\" content=\"Blue Owl Capital\u00a0is in the midst of completing the largest single-property industrial acquisition in the Inland Empire, Calif., industrial market...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/blue-owl-buys-big-lots-warehouse\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-26T09:46:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-26T19:27:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/10\/inland-empire-warehouse.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1980\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Sabau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Diana Sabau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/blue-owl-buys-big-lots-warehouse\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/blue-owl-buys-big-lots-warehouse\/\",\"name\":\"Blue Owl Completes Largest Inland Empire Warehousing Acquisition in 2 Years - 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