R.L.R. Investments buys San Diego warehouse
R.L.R. Investments LLC has purchased a 56,832-square-foot crossdock warehouse-distribution building in northern San Diego for $10.1 million the San Diego Daily Transcript reported Thursday.
The property will be occupied by R&L Carriers, a subsidiary of Ohio-based R.L.R. Investments LLC.
The acquisition was financed through a $195 million line of credit with JPMorgan Chase Bank. The property was purchased from a trust.
The building features about 46,530 square feet of high-bay warehouse with the rest taken up by office space.
Multiple tenants such as Haagen Daaz, Carvel Ice Cream, Ross Swiss Dairy and InstantWhip used the facility as a cold-storage facility.
The 20-year-old building will be refurbished by the new owners and is slated for use as a public cold storage rental facility. The building, R&L Carriers’ first in San Diego, is part of the firm’s planned expansion into California.
R&L Carriers operates a trucking fleet of more than 13,000 tractors and trailers and an overnight air shipping service.