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4/30/21
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A 66.2k sf, multi-tenant industrial business park investment in Pomona was purchased for $6.75 mil ($102/sf) by a private investor. The property is located at 224-236 E Monterrey Ave and 201-225 N Palomares St, within the East San Gabriel Valley industrial submarket.
Built in 1980, the multi-tenant, single-story park features 34 units ranging in size from 800 sf to 2.8k sf. The property is situated in a central location along an excellent transportation corridor next to the 71 Fwy on the west, the 10 Fwy on the north, and 60 Fwy on the south. The building was 80% occupied at the close of escrow. The new owner plans to lease out the building and hold the asset as a long term investment.
Ryan Campbell, SIOR, with NAI Capital Commercial’s Investment Services Group represented the buyer in the transaction.
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