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7/15/22
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DSquared Capital LLC, a joint venture between Sharp Capital and One Cole Group, has acquired an industrial property in Pomona, consisting of an 80k sf building on just over four acres, in a recent $16 mil transaction. The property, located at 110 Erie St, was sold by Richard Alcedo, owner of Bright Glow Candles Inc.
The buyer intends to either reposition the existing industrial structure or develop a new class A building. Currently, it is being used by the seller for manufacturing purposes, which negotiated a 15-month leaseback as part of the transaction. It is located off the 10 and 71 freeways, and has on-site railroad access – a rare feature in the Inland Empire.
The off-market deal marked the fourth industrial transaction by a Sharp Capital / One Cole Group joint venture in the last six months. According to Sharp Capital’s David Shophet, the company plans to acquire more industrial buildings throughout Southern California this year.
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