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11/22/19
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A 138.1k sf, multi-tenant industrial park located at 9007-9087 Arrow Route in Rancho Cucamonga was purchased by Teamrise International in a $21.5 mil ($156/sf) transaction. The property was sold by Focus Real Estate Services LLC, based out of Newport Beach.
In just three years of ownership, Focus Real Estate Services implemented an aggressive renovation and marketing plan which stabilized rents and occupancy, adding a significant amount of value to the property. With rent growth projected to continue and a low market vacancy rate, the project is expected to provide the buyer excellent returns well into the future.
Juan Gutierrez and Mike Bouma with Voit Commercial Real Estate Services represented Focus Real Estate Services in the deal. Teamrise International, based out of Pasadena, was repped by KMBJ Inc.
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