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11/10/22
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Dunleer has acquired 11 industrial buildings totaling 43.4k sf of space in Upland for $8 mil ($184/sf). The buildings are situated on three separate parcels across 3.13 acres at 928, 1004 and 1024 9th St, within the Inland Empire West submarket of San Bernardino County.
The buildings, which include a total of 12 units, are less than a quarter of a mile from I-10, providing direct access to Los Angeles and the greater Southern California region. They are also proximate to Ontario International Airport, which was ranked in the top 10 for cargo import and export volume in 2021.
“Upland’s neighboring San Gabriel Valley submarket is currently experiencing an industrial market vacancy rate below .5%, and the Industrial Empire has been among the top performing industrial submarkets in the entire nation. The vast majority of inventory in the Inland Empire is comprised of big box warehouse space, with small bay product comprising a small percentage of total area and vacancy levels at record lows. This extremely tight market is also elevating rents. Ultimately, the Los Angeles County market fundamentals are forcing more users to seek space further east which creates favorable demand dynamics for Inland Empire West submarkets, including Upland,” said BJ Turner, Founder of Dunleer.
Joe Harmon and Charles Johnson from DAUM represented both parties in the deal.
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