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7/23/18
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A 32.8k sf warehouse/manufacturing facility in Ontario sold for $5.53 mil ($168/sf). The building is located at 1100 N. Hellman Ave, within the Airport area submarket of the Inland Empire.
Built in 2000, the single-story building is a free standing, concrete tilt-up, warehouse/manufacturing facility. It has 6.4k sf of office space with 6.2k sf of temperature controlled lab and manufacturing space. It has excellent warehouse functionality with 26' minimum ceiling clear height, three exterior dock high doors and two grade level doors. The project was 100% occupied at the time of the sale.
Richard Lee, SIOR, Nicholas Chang, CCIM, SIOR, and Justin Kuehn with NAI Capital represented the seller, Walker Obioha Family Trust. The buyer was Catry International LLC.
Lee said, “We are seeing strong demand from investors and users to purchase industrial assets.” He adds, “The Inland Empire industrial market is one of the most sought after in the nation - with industrial sales at record levels – driving up demand and pricing. Good product is in short supply. This project received a flurry of activity, as we were able to generate 20 private tours of the asset resulting in two bona fide near full price offers within just weeks of hitting the market.”
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