Blackstone keeps selling Inland Empire warehouses, big-box and small-bay both

Link Logistics, the industrial arm of Blackstone, has been shedding Inland Empire positions from both ends of the market. In May, Premier Logistics Properties and Penwood Real Estate Investment Management bought two Class A warehouses at 1568 and 1660 N. Linden Ave. in Rialto for $270 million, a deal CoStar reported as Amazon-leased fulfillment space.

The two buildings total 1,469,848 square feet on 107 acres, with 36-to-42-foot clear heights, full concrete truck courts and trailer storage — the big-box specification that defines the region's distribution stock. Eastdil Secured represented the seller.

Weeks later, the same seller's name appeared on the other end of the size curve: Link's small-bay light industrial went to the BKM Capital Partners–Kayne Anderson joint venture as part of an 8.5-million-square-foot, four-state portfolio sold for $1.81 billion, three assets of them in the region.

The throughline is the seller. Link has been refining its national portfolio through a series of dispositions since 2025. The national narrative reads industrial as a sector institutions are racing to buy; in the IE, the largest last-mile owner in the country has spent the spring as a net seller — big-box to one buyer, small-bay to another, within weeks of each other.

That's a supply-side signal worth watching. It says less about demand for IE warehouse space than about how the biggest owner is reading price: selling stabilized, fully leased assets into a market where buyers are still paying up.