A 21.3-acre truck terminal at 12903 Lakeland Road in Santa Fe Springs has changed hands in an off-market deal, with Bridge Logistics Properties picking up the site currently leased to freight carrier XPO Inc. The transaction, finalized without ever hitting the open market, lands in a Los Angeles County industrial sector where land this size rarely becomes available at all.
Bridge Logistics Properties purchased the property with Colliers involved in the off-market transaction. The site includes what commercialsearch.com describes as an approximately 114,000-square-foot terminal occupied by XPO Inc.
Per Bisnow, the property sits near the I-5 and I-605 freeways, giving it direct freight connectivity through Santa Fe Springs. Bridge Logistics Properties, a subsidiary of Bridge Investment Group Holdings LLC, had reportedly tracked the site with Colliers for roughly four years before the deal closed, with Colliers representatives Jace Gan and Clyde Stauff involved in the transaction, Bisnow reported.
A Deal Struck at Half of Today's Land Value
The acquisition reportedly closed at roughly half of comparable land value. That pricing stands out in a Los Angeles industrial market where land scarcity has made large parcels increasingly difficult to secure at any price, let alone a discount.
Paul Jones, Bridge Logistics Properties' managing director for the West region, said the Lakeland Road site is an irreplaceable infill location with critical logistics infrastructure and flexibility over time, according to Bisnow's reporting. He added that truck terminals of this scale are extraordinarily difficult to replicate in Los Angeles today. Grant Moore, the firm's vice president of West region investments, echoed that sentiment, saying the combination of scale and existing terminal infrastructure makes the Lakeland Road property extremely difficult to duplicate, per the same account.
XPO's Long Tenure and a Constrained Market
XPO, a freight transportation company listed on the NYSE, has operated at the property for over a decade, Bisnow reported. The acquisition structure reportedly gives Bridge Logistics Properties long-term flexibility to either retain and re-lease the existing improvements or redevelop the site once the lease expires — an optionality the firm's executives highlighted as central to the deal's appeal.
The purchase lands amid broader structural pressure on Southern California's industrial market. Land scarcity, entitlement friction, rising construction costs and outdoor-storage restrictions have constrained new logistics supply throughout Los Angeles, according to Bisnow's reporting, and cities have increasingly placed greater restrictions on new truck-intensive uses. Those dynamics help explain why facilities of this scale and functionality have become critical logistics infrastructure in the region, the outlet noted.
Port Traffic and State Law Reshape Industrial Demand
The scarcity extends beyond this single parcel. Roughly 40% of containerized imports to the United States move through the ports of Los Angeles and Long Beach, according to the Los Angeles Times, fueling sustained demand for sites that can handle heavy truck traffic near those gateways. The Times also reports that industrial outdoor storage rents have climbed 123% since 2020, more than double the pace of bulk warehouse rents, as state law under AB 98 has tightened guidelines for industrial zoning and indirectly boosted demand for outdoor storage space. Text of the bill reviewed via California Legislative Information shows that, starting January 1, 2026, new or expanded logistics-use developments on non-industrial-zoned land within the state's designated warehouse concentration region must meet specified requirements, though the excerpt reviewed does not detail the full list of conditions.
Part of a Wider Pattern of Truck-Terminal Deals
The Lakeland Road purchase fits a pattern of investors chasing truck-capable industrial sites across the region. Harbor Associates LLC bought a 126,000-square-foot industrial portfolio in the South Bay for $55 million, spread across four adjacent properties on a 7.5-acre site at 690-760 W. 190th Street, with plans to potentially convert it for truck parking, according to the Los Angeles Business Journal. Bridge Logistics Properties itself has been active in this corner of the market before, having paid $6.5 million in 2023 for a 38,038-square-foot truck and container yard near the Port of Los Angeles, according to The Registry Southern California.
More recently, the firm closed on the San Jose 2-Pack, a fully leased, two-building industrial portfolio totaling 450,000 square feet in the City of Industry, in a deal that closed in October 2025, according to JLL. JLL's announcement also notes that Bridge Logistics Properties was founded in 2021 and operates as a vertically integrated logistics real estate investment manager staffed by industrial real estate veterans. Outdoor-storage rental rates in Los Angeles now sit at the highest level of any market in the country, at $336,120 per acre, the Los Angeles Times has reported, underscoring why infill sites like the Lakeland Road terminal continue to draw aggressive investor interest even at a premium.
