Ivanhoé Cambridge Completes the Acquisition of Colony Commerce Center, a Strategic Development Site in Southern California

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Ivanhoé Cambridge announces that it has completed the acquisition from CapRock Partners of two strategically-located parcels of land in Ontario, located in the Inland Empire area of Southern California, and intends to develop them at a cost of more than US$450M. This acquisition paves the way for the development of Colony Commerce Center Phases 1 and 2, which will comprise 11 class A industrial buildings. The entire project will consist of almost 3,000,000 sq. ft. (280,000 m2) of modern leasable space and offer a variety of building sizes, including 600,000 sq. ft. (56,000 m2), 700,000 sq. ft. (65,000 m2) and 1,000,000 sq. ft. (93,000 m2). false false false Ivanhoé Cambridge selected CapRock Partners to develop the project on its behalf. Since its founding in 2009, CapRock Partners is one of the fastest-growing private industrial development and investment firms in the Western United States. Including Colony Commerce Center Phases I and II, CapRock will be undertaking construction on more than 10,000,000 sq. ft. of logistics properties in the Western United States over the next eighteen months. false false false The Inland Empire is a highly sought-after industrial area of Southern California and benefits from strong demand from Fortune-1000-caliber tenants. In 2017, 50 per cent of the real estate activity in the Inland Empire was comprised of e-commerce companies, by far the largest proportion in the Greater Los Angeles Area. Vacancy levels of big-box logistics buildings in this region are at an all-time low. false false false Ivanhoé Cambridge and CapRock Partners would like to thank Darla Longo and Barbara Emmons Perrier of CBRE National Partners West who helped facilitate the transaction. false false false About Ivanhoé Cambridge Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a long-term view to generate optimal, risk-adjusted returns. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint. Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the residential, office, retail, industrial and logistics sectors. Ivanhoé Cambridge held more than C$60 billion in assets as at December 31, 2017, and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpqcom), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com