Black Creek’s Southern California team leveraged its local presence and relationships to not only source the transaction, but work through several challenges over the course of the development process. These included working through entitlement issues with the city and other neighboring properties that the previous owner was unable to complete.
Due to Black Creek’s development expertise along with its knowledge of how to navigate local governmental processes, the company was able to address these items in a timely manner keeping the project on schedule.
While Black Creek used its local knowledge to complete the development, it also used its national presence to secure the quick lease-up of the building. Owning properties in 33 markets, Black Creek’s broker relationships span the country and during the marketing of Arrow Route the company was approached by an out of state broker who had previously worked with Black Creek and had a well-established, publicly traded company that needed big-box space in the area. Black Creek was able to work with the broker and tenant to address their needs and within 90 days of completion the development was 100 percent leased.