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August 18, 2018
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LBA Realty Makes $20 Mil Buy of Inland Empire Industrial Asset

5/16/18

LBA Realty has purchased a fully leased, Class A core industrial building totaling 155.1k sf on nearly seven acres in Riverside for $20.2 mil ($130/sf). Built in 2007, the state-of-the-art facility is located at 1100 E. Citrus St, east of Iowa Ave and I-215 Fwy.

The property was sold by AMA Plastics / Westfall Technik Inc. In conjunction with the sale, AMA Plastics agreed to a 10-year leaseback for the entire facility, which serves as its headquarters. On April 13, it was announced AMA Plastics was acquired by Westfall Technik Inc, a recently formed global holding company that provides highly productive plastics manufacturing solutions to the medical, packaging and consumer goods industries.

The property has exceptional industrial features including 32’ clear height, a large secure truck court, a total of 16k sf of high quality office space, heavy power, ESFR sprinklers, 12 dock-high loading doors, and full drive around access. The property also offers immediate access to the Southern California freeway system provided via Interstate 215, situated less than a mile from the property.

Jeff Chiate, Rick Ellison and Mike Adey of Cushman & Wakefield’s National Industrial Advisory Group (IAG) out of Orange County along with David Stefancic of the firms’ Chicago office represented the seller in the transaction. Ryan Velasquez also of the firm’s local office provided market advisory.

“Checking all boxes from an investor standpoint, this world-class asset offered a core industrial investment opportunity composed of a rare manufacturing/distribution facility in a highly desirable Inland Empire location, with a full-building, long-term tenant,” Chiate noted. “The facility is crucial to the tenant as it serves as the company’s headquarters, with more than 200 employees at this location.”





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