| Ontario, CA, July 10, 2018 – Senior Vice Presidents Richard Lee, SIOR and Nicholas Chang, CCIM, SIOR and Senior Associate Justin Kuehn with NAI Capital’s Ontario office completed the sale of a 32,834 square foot warehouse/manufacturing facility in Ontario, Calif. Richard, Nicholas and Justin represented the seller, Walker Obioha Family Trust. The buyer was Catry International LLC. The building sold for $5,531,872 million or $168 per square foot.
The building is located at 1100 N. Hellman Avenue 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 6,431 square feet of office space with 6,230 square feet of temperature controlled lab and manufacturing space. It has an excellent warehouse functionality with 26' minimum ceiling clear height, three exterior dock high doors and 2 grade level doors. The project was 100% occupied at the time of the sale. 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 2 bona fide near full price offers within just weeks of hitting the market.” |
| Nicholas Chang, CCIM, SIOR Senior Vice President 909.243.7614 nchang@naicapital.com CalDRE Lic. #01344844 |
Richard Lee, SIOR Senior Vice President 310.600.8888 rlee@naicapital.com CalDRE Lic. #01757870 |
Justin Kuehn Senior Associate 909.243.7627 jkuehn@naicapital.com CalDRE Lic. #01966182 |
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. NAI Capital CalDRE Lic. #01990696. ©2018 NAI Capital. All rights reserved. Privacy Policy |