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2/08/24
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A 102.9k sf, freestanding Class A industrial property in Ontario was leased in a four-year, $8.79 mil transaction. The deal averages out to $1.78/sf/mo.
Located on 4.7 acres at 5505 E. Concours St, the facility was built in 2001. It includes 3.1k sf of office space, 14 dock-high loading doors with levelers, a ground-level door and a secured truck court, and BNSF rail service with six doors. The building also offers 62-car parking and four detached trailer stalls. It is strategically situated with freeway access to the 10, 60 and 15 freeways.
Christopher Migliori, SIOR, and Gus Andros with DAUM Commercial Real Estate represented the landlord in the transaction. Jeff Bellitti of JLL repped the tenant.
According to DAUM Research, Q4 2023 saw a major spike in absorption for the region as the largest single industrial building was delivered in the Inland Empire West market. However, asking rents dipped $0.01 to $1.45 per square foot as the region’s vacancy rate increased by 99 basis points to 5.4%.
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