Bridge Logistics Buys XPO Truck Terminal at Half Land Value

Bridge Logistics Properties, a subsidiary of Bridge Investment Group Holdings (NYSE: BRDG) and an affiliate of Apollo Global Management, has closed on a 21.3-acre truck terminal at 12903 Lakeland Road in Santa Fe Springs, fully leased to XPO, Inc. (NYSE: XPO). BLP’s own release, distributed Oct. 13, says the off-market deal priced at roughly half of today’s comparable land value in the submarket. No purchase price was disclosed.

Why it matters

Large, contiguous industrial parcels in the LA Gateway submarket rarely trade, let alone off-market and at a discount to land value. For developers and logistics investors scanning LA County for sites with both cash flow and optionality, this deal is a signal that a public, credit-tenant lease can still clear below replacement cost when a seller wants a quiet exit and a buyer has tracked the asset for years. BLP Managing Director Paul Jones said in the release that “truck terminals of this scale are extraordinarily difficult to replicate in Los Angeles today,” underscoring why BLP structured the deal to hold cash flow now and redevelopment rights later rather than bidding for vacant land.

The numbers

The site spans 21.3 acres and carries a roughly 114,000-square-foot cross-dock terminal with 130 dock-high positions, 16 grade-level doors, and about 800 auto and trailer stalls, plus a maintenance building and truck scale with no hours-of-use restrictions. XPO has operated there for more than a decade. Colliers brokers Jace Gan and Clyde Stauff tracked the property with BLP for roughly four years before the transaction closed. The parcel sits near the I-5 and I-605 interchange, inside LA County.

What’s next

BLP’s release states that at lease expiration, the firm can either retain and re-lease the existing terminal improvements to XPO or another logistics user, or pursue redevelopment of the 21-plus acre site. No timeline or lease-end date was disclosed. For industrial developers tracking the LA Gateway submarket, the deal adds one more large parcel to a short list of sites with near-term redevelopment optionality; see our Q3 LA industrial vacancy data for the supply backdrop, or the Los Angeles market hub for more coverage.