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4/20/15
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Autotech Engineering, a national manufacturer of after-market autoparts, completed a complex, off-market 1031 exchange transaction, having purchased an industrial building in Riverside for all-cash after selling its former site in Fontana. The transactions had a combined price of $5.9 mil.
Autotech sold its 48.4k sf Fontana building at 10580 Mulberry Ave for $3.9 mil ($81/sf) to a manufacturer of all-terrain vehicles. In the concurrent Riverside transaction, Autotech paid $2.06 mil ($92/sf) for a 22.4k sf structure at 3870 Garner Rd (below).
Brad Yates, Richard Schwartz and Stefan Pastor of Colliers represented the automotive company in both transactions. Cushman & Wakefield’s Ryan Velasquez and Milo Lipson represented the owner of the Riverside property in the sale to Autotech. Mike Lee of Lee & Associates represented the buyer of Autotech’s Fontana property.
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