LaSalle Investment Management is continuing to grow its holdings in Fontana. The Chicago-based firm recently acquired a 60,102 square foot industrial property in the city for $14.75 million, or about $245 per square foot, according to Vizzda records. The seller in the transaction was an entity affiliated with Stuart D. Heath.
The property is located at 8395 Sultana Ave. and consists of five buildings on nine acres of land. Built in 2000, the site is currently occupied by California Cascade, a manufacturer of building materials.
The site is located just south of Foothill Boulevard and to the east of Interstate 15. The area is primarily home to a number of other industrial sites, with a mix of manufacturing, recycling and distribution facilities.
LaSalle Investment Management was founded more than four decades ago and currently has more than 900 employees in 24 offices across the globe. As of the third quarter of 2023, the firm has approximately $78 billion in private and public real estate property and debt investments, according to its LinkedIn page.
The property is not the only industrial asset in Fontana to be added to LaSalle Investment Management’s portfolio in recent months.
In one deal that took place earlier this year, LaSalle Investment Management acquired a 35,400 square foot property for $13.28 million, or about $375 per square foot. The property, located at 14878 Ceres Ave., was sold by an entity linked to Bradley Kaplan of Trojan Concrete Coring.
