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6/02/20
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A 43k sf industrial building in Rancho Cucamonga was purchased by an unnamed toy company in a recent $7.58 mil ($176/sf) deal. The building features include 24’ clear height, five dock high loading doors, one ground level door and 76 parking spaces. The property also has a 7.6k sf, two-story office.
Originally constructed in 1991, the freestanding facility is located at 9568 Richmond Place, less than two miles from both the I-15 and I-10, two major freeways that connect Rancho Cucamonga to Los Angeles, Riverside and Orange Counties. The property is less than three miles from Ontario International Airport, the largest public airport in the Inland Empire.
Jason Chao and Charlie Noebel of CBRE represented the seller in the transaction. The buyer was repped by an outside firm.
“This property is located in the strong Rancho Cucamonga industrial market with convenient access to major freeways,” said Chao. “Despite the recent disruption to the market, we were able to secure a very competitive sale price for our client.”
The rising use of e-commerce is expected to create additional warehouse demand as consumers continue social distancing even after states and cities reopen their economies, according to a CBRE research report. Established e-commerce hubs at major transportation centers, such as the Inland Empire, should see strong fundamentals as many occupiers recalibrate their supply chains and build automation and efficiencies into their distribution networks.
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