By Kate Snyder
The Inland Empire’s industrial market could soon see even more sales activity with the listing of a 13-building portfolio near Fontana’s downtown. According to marketing information from Logistic Real Estate Services, which has the listing, the property’s asking price is approximately $22.4 million, or about $260 per square foot. Logistic Real Estate’s Michael Di Peppino is the broker for the property. Public records show the owner is the Rooney Family Trust.
Located at 8241 Beech Ave. as well as multiple other addresses along Beech and Sultana avenues, the 13 buildings are positioned on separate parcels and range in size from 5,000 to 8,000 square feet. The parcels of land total approximately 6.2 acres, marketing information shows. The buildings are steel construction with 41 roll-up doors in total. Most of the structures are divided for multi-tenant occupancy and are 100 percent leased. Companies with addresses at the property include West Coast Cylinder Repair, Patton’s Truck Repair and USA Truck Body Shop.
Fontana has seen a number of industrial properties trade hands in recent months.
In one deal earlier this year, TPA Group paid $19.9 million, or about $296 per square foot, for a 67,113 square foot industrial asset. The property was acquired from an entity tracing to Adam Chrisman, with $11 million in new debt with Hartford Investment Management, according to The Registry’s previous reporting. The property is located at 8425 Almeria Ave. and consists of a single building constructed in 2004 on approximately three acres.
LaSalle Investment Management also expanded its portfolio with an acquisition in the city. In August, an entity affiliated with the global investment management firm acquired a 35,400 square foot industrial property for $13.28 million, or about $375 per square foot. The property was sold by an entity linked to Bradley Kaplan of Trojan Concrete Coring. Situated on nearly four acres, the property is located at 14978 Ceres Ave., and consists of two buildings built in 1990.
