LaSalle Investment Management is adding to its portfolio with a recent acquisition in the Inland Empire. 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, according to Vizzda records.
Situated on nearly four acres, the property is located at 14978 Ceres Ave., and consists of two buildings built in 1990. The property is to the northeast of the Auto Club Speedway, an area that has seen various other industrial projects pop up in recent years.
LaSalle Investment Management is a subsidiary of Jones Lang LaSalle. Based in Chicago, the firm has a total of 24 offices across the globe, with approximately $78 billion in private and public real estate property and debt investments, according to its Linkedin page.
Earlier this year, the firm acquired an additional property in Fontana. Located close by at 15060 Ceres Ave., the property is home to approximately four acres of land as well as a 6,000 square foot building that was developed in 2002. The firm purchased the property from an entity linked to Charles Edward Dubay for $14 million, according to a previous report from The Registry.
In general, Fontana has seen a significant amount of industrial deals over the past several months. One recent deal included LBA Logistics’ acquisition of a 95,600 square foot industrial property at 16355 Slover Ave. The property was sold by Newcastle Partners for $37 million, or about $387 per square foot. In another transaction, Wafra Inc. acquired a 76,809 square foot distribution center in Fontana for $28.43 million, or about $370 per square foot. The property, located at 14815 Hilton Drive, was sold by Compass Danbe Real Estate Partners.
