The former Upland Citrus Association building, a 91,877-square-foot industrial property located at 110 North Third Avenue in Upland, has been listed for sale at $17.35 million, or approximately $189 per square foot. CBRE, which is marketing the asset on behalf of long-time ownership, highlights the property’s stable income stream and upside potential, adding that the 1.8-acre site features a notable offering in one of Southern California’s most constrained industrial markets.
According to the marketing flyer, the building is 100 percent occupied by a mix of six tenants, with a weighted average lease term (WALT) of 3.7 years. The offering reportedly presents near-term income stability and long-term rental growth potential, with in-place rents below market. Delivered with a 6.6 percent cap rate, the asset includes functional improvements such as 23-foot clear height, eight dock-high and eight grade-level doors, and 3,000 amps of 220v heavy power.
Originally built as one of the fourteen packing houses of the Ontario Cucamonga Fruit Exchange, the property has not traded hands in 45 years. Based on the flyer, the structure includes a large warehouse floor, a two-story office wing, and lower-level commercial storage space, all contributing to its adaptability across a range of industrial configurations. The lot also features a yard with room for outdoor storage or future expansion.
Located adjacent to the Upland Metro station, the site offers transit access to the Inland Empire, San Gabriel Valley, and Downtown Los Angeles. Just one block southeast of Historic Downtown Upland, the property is also in close proximity to retail and dining amenities. CBRE’s Gerard Poutier and Mark Shaffer are handling the listing.
According to market reports cited in the marketing flyer, Upland is one of the tightest submarkets in the Inland Empire, with a 4.4 million square foot industrial base and an average vacancy rate of just 3.18 percent over the past three years. No new industrial construction is currently underway in the city. At the same time, broader market indicators also remain strong, as the West Inland Empire submarket posted a 5.5 percent vacancy rate in Q4 2024, a 10-basis point decrease from the previous quarter.
CBRE underlines that the Inland Empire continues to dominate as the top industrial market in the nation, benefiting from its proximity to the ports of Los Angeles and Long Beach and playing a central role in the U.S. supply chain. Over the past 12 months, the region reportedly recorded more than 61 million square feet leased and over $3 billion in industrial property sales.
