Bridge Logistics Properties Acquires 21-Acre XPO-Leased Truck Terminal in Santa Fe Springs

Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings LLC, has acquired a 21.3-acre truck terminal at 12903 Lakeland Road in Santa Fe Springs, California, in a fully off-market transaction, the firm announced Oct. 26. The property is fully leased to XPO, Inc. (NYSE: XPO).

BLP said it acquired the asset at roughly half of today's comparable land value. The firm said the entry basis gives it the ability, at lease expiration, to retain and re-lease the existing improvements or pursue redevelopment of the site. The seller was LBA Logistics.

Property Details: 12903 Lakeland Road Truck Terminal

The site spans 21.3 acres, or approximately 928,828 square feet of land, and is described as low-coverage. It includes an approximately 114,000-square-foot cross-dock terminal with 130 dock-high positions, 16 grade-level doors and approximately 800 auto and trailer stalls. The secured facility also has a maintenance building and truck scale and currently operates without hours-of-use restrictions.

The property is 100% leased to XPO, which has operated at the site for more than a decade. It is located near the I-5 and I-605 freeways, providing connectivity throughout Southern California and to the Ports of Los Angeles and Long Beach.

BLP Executives on the Acquisition

"This is exactly the type of opportunity we look for in Southern California — an irreplaceable infill site, critical logistics infrastructure, and a basis that gives us significant flexibility over time," said Paul Jones, Managing Director, West Region at BLP. "Truck terminals of this scale are extraordinarily difficult to replicate in Los Angeles today. We're able to own more than 20 acres in a premier logistics location at roughly half of current land values, while benefiting from durable in-place income and preserving multiple paths for the property at lease expiration."

Grant Moore, Vice President, West Region Investments at BLP, said: "The combination of scale and existing terminal infrastructure makes Lakeland Road extremely difficult to duplicate. XPO has operated at the property for over a decade, and the site's cross-dock configuration, substantial trailer parking and freeway access make it highly functional for high-volume freight operations."

Off-Market Sourcing With Colliers

BLP tracked the property with Colliers for approximately four years before completing the off-market transaction. Jace Gan and Clyde Stauff of Colliers were involved in the deal.

Supply Constraints in Los Angeles Industrial Real Estate

BLP said the existing truck terminal use is increasingly difficult to replicate in Los Angeles because of land scarcity, entitlement friction, rising construction costs and restrictions on outdoor storage. The firm said facilities of this scale and functionality have become a critical piece of regional logistics infrastructure as cities place greater restrictions on new truck-intensive uses.

Market conditions in the Los Angeles industrial sector were mixed in the third quarter of 2026. Cushman & Wakefield reported greater Los Angeles vacancy of 4.3%, up 30 basis points from the prior quarter but 10 basis points below the prior year. Average asking rent was $1.33 per square foot per month on a triple-net basis, up $0.02 quarter over quarter but $0.02 below the prior year and $0.38 below the 2023 peak.

Kidder Mathews measured the Los Angeles market differently, reporting 6.0% direct vacancy, 6.7% total vacancy including sublease space and 8.4% total availability. Its asking rent was $1.36 per square foot per month NNN, down 3.55% from $1.41 a year earlier. Kidder Mathews also reported net absorption of negative 686,000 square feet for the quarter and average industrial sale pricing of $283.59 per square foot at a 5.7% average capitalization rate. NAI Capital reported that leasing declined 31.5% quarter over quarter and 26.1% year over year, with rents flat quarter over quarter and down 2.1% year over year.

About Bridge Logistics Properties

Founded in 2021, BLP is a vertically integrated logistics real estate investment manager with offices in New Jersey, Atlanta, Miami, Dallas and Los Angeles. Its team includes industrial real estate professionals with prior tenure at Brookfield, Prologis, IDI Logistics, Duke Realty, Hines and KTR Partners. Bridge Investment Group is an affiliate of Apollo Global Management, Inc. (NYSE: APO).

Sources

Bridge Logistics Properties press release, Oct. 26, 2026: https://www.bridgeblp.com/_files/ugd/006ff8_7035e64010a34c29b7b6bf9a656b3cf6.pdf