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4/28/20
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Dermody Properties recently acquired a 103.4k sf industrial building in Ontario for $12.9 mil, or $125/sf. The building sits on 5.79 acres at 3120 E. Mission Blvd, north of Hwy 60 and west of I-15.
The 3120 Mission Blvd building features 24' clearance height, a large truck court and 243 parking spaces. The freestanding structure was originally built in 1990 and was vacant at the time of sale.
The property is less than four miles from I-15, I-10 and SR 60, three major Southern California freeways that connect the Inland Empire to Los Angeles, Orange and San Diego Counties. The site is also within three miles of the Ontario International Airport.
CBRE’s Barbara Perrier, Darla Longo and Dan De La Paz represented the Nevada-based buyer in the transaction. The CBRE team also repped the seller, police supply company Safariland, in the deal.
Longo commented, “In its current state, the property has potential to be a headquarter-style location due to its high percentage of office space and substantial parking. There is also an opportunity to convert the building for more standard distribution use by downsizing the office, adding more dock doors and re-striping the truck court for trailer parking. This flexibility was of significant interest to the buyer.”
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