Joint Venture Between Core5 Industrial Partners and MBK Industrial Properties Sells Newly Completed Industrial Building in Rancho Cucamonga, California

May 23, 2024

ATLANTA, May 23, 2024 – Atlanta-based Core5 Industrial Partners announced today the recent sale of a development in Rancho Cucamonga, 49,291-square-foot Arrow Business Center, to JC United Investments. The project was a joint venture between Core5 and MBK Industrial Properties. Arrow Business Center completed construction in March of 2024 and will be owner-occupied. The property is located on 2.35 acres of land and features 32-foot ceiling heights, five dock high doors, five trailer parking positions, one drive-in door and 145-foot truck court depth. Arrow Business Center is located just south of the Rancho Cucamonga Quakes Baseball Stadium in the thriving Inland Empire West sub-market. The site offers close proximity to I-10, I-15, and Highway 60, connecting to the Southern California markets and the westerly states. “The location, building quality and site functionality were all key elements which made this asset highly sought after by investors,” stated Jon Kelly, Senior Vice President and Managing Director for Core5’s Los Angeles market office. Core5 was represented in the sale by David J. Neault, CCIM. Mr. Neault is the Managing Director for KW Commercial’s Rancho Cucamonga office. “Arrow Business Center was one of the best industrial investment offerings in the Inland Empire. The purchase price set a recent high-water mark in value for a sale of a building in this size range in this sub-market,” stated Mr. Neault. Please click here to view a drone video showcasing Arrow Business Center. About Core5 Industrial Partners Core5 Industrial Partners is an industrial real estate property company with expertise in development of Class-A properties featuring the latest innovations throughout the United States. Headquartered in Atlanta, Georgia, Core5 has development activity in Atlanta, Chicago, Cincinnati/Northern Kentucky, Columbus, Dallas, Houston, Indianapolis, Los Angeles/Inland Empire, Louisville, Maryland, Memphis, Nashville, Pennsylvania, Phoenix, San Antonio, Savannah and South New Jersey with expansion plans to additional key logistic hubs in the US. Founded in 2015, the company has developed or begun construction on 49 million square feet since inception. Immediate access to capital, coupled with the ability to financially support deals on their balance sheet without utilizing third party resources on most transactions, Core5 executes quickly without layers of bureaucratic, time-consuming processes. The company is privately held by over 180-year-old Japanese-based Kajima Corp – one of the world’s largest A credit-rated construction companies with whom C5 leadership has sustained a 30+ year working relationship. Named for its five core principles, the company values are centered around a highly flexible entrepreneurial spirit promising follow through on commitments with an emphasis on relationships, excellence in quality, attention to detail and quick decision making. For more information on Core5 Industrial Partners, visit www.c5ip.com. About MBK Industrial Properties MBK Industrial Properties (MBK Industrial) is an active developer and investor of industrial properties focused on investments in California, Texas and the other western US states. MBK Industrial’s development experience consists of both joint venture and wholly owned investments and to date has completed 1.8M SF and has an active pipeline of over 2.5M SF. With a deep bench of experienced professionals, MBK Industrial has sourced and underwrite investment opportunities, often off-market, and then take the investment through the full lifecycle. MBK Industrial is part of MBK Real Estate, which in addition to industrial properties invests and develops multi-family projects while also owning and operating a portfolio of senior living communities, under the MBK Rental Living and MBK Senior Living banners, respectively. MBK Rental Living has completed over 2,600 units to date and has an active pipeline of approximately 1,500 units throughout California. MBK Senior Living currently owns or operates 35 communities in the western US. MBK Industrial and MBK Real Estate are wholly owned subsidiaries of Mitsui and Co., Ltd., a global Fortune 500 company.
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Core5 Promotes Jon Kelly to Senior Vice President and Managing Director

April 1, 2024

A six-year veteran of Core5 and as head of our Western Region, Jon has been responsible for the land acquisition and entitlement, development, leasing and sales of projects in the Inland Empire.  In addition, Jon has led us into the Phoenix market, where we acquired our first site in 2022 and continues to seek opportunities for expansion in the West.
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