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October 19, 2019
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INLAND EMPIRE NEWS
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New Rialto Industrial Facility Sells for $16 Mil

3/04/19

A newly constructed, 120.6k sf freestanding industrial facility in Rialto sold for $15.9 mil ($132/sf). The facility, located at 1450 Alder Ave, was then leased out to the buyer’s affiliate, Magnolia Foods, a Mira Loma-based manufacturer and distributor of high-quality food products that is expanding its presence in the Inland Empire.

The facility features 22 dock-high loading doors, an ESFR fire sprinkler system, 32-foot minimum ceiling clear height, a 181-foot truck court, 2,000-amp electrical services and 6k sf of two-story office space, among other amenities.

Situated in a newly developed business park within the Renaissance master-planned development of Rialto, the building offers immediate access to I-210 Fwy, and is close to the 210/15 Fwy interchange, which allows excellent east/west and north/south interstate transportation routes. National corporate neighbors in the immediate area including Target, Amazon, Under Armour, Niagara Water, Monster Beverage, Kellogg’s and Medline.

Voit Real Estate Services’ Juan Gutierrez, Frank Geraci, and Adam Geiger represented the seller, Compass Danbe Real Estate Partners LLC, in the deal. Walt Chenoweth and Sean Sullivan, also with Voit, repped the buyer, 1450 Alder Avenue LLC.

“The Inland Empire industrial market is extremely active, with approximately msf of industrial product under development at the start of 2019,” says Gutierrez. “In spite of these new deliveries, there continues to be a tremendous lack of quality for-sale industrial product in the 100k sf to 200k sf range.” Voit represented Compass Danbe Real Estate Partners LLC in the acquisition of more than 15 acres of land over the past 24 months and is now the exclusive agent for each property’s lease or sale.

“The City of Rialto’s commitment to infrastructure and support of the industrial sector makes it an excellent location for owner-users, tenants and investors,” says Mark Bachli, Principal and Co-Founder of Compass Danbe Real Estate Partners LLC. “For this reason, we continue to invest heavily in this particular area and plan to bring numerous Class A industrial properties in the 70k sf to 120k sf size range to market during 2019 and 2020.”






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