BlackRidge Acquires 300,000-SF Distribution Center in Southern California
- Oct 06, 2010
October 6, 2010
By Allison Landa, News Editor
Chalk up a significant transaction for the industrial sector: Real estate investment and operating firm BlackRidge Real Estate Group L.L.C. has snagged a fully leased 302,020-square-foot distribution center. Located at 1000 Etiwanda Avenue in Ontario, California, the property was purchased from BIT Holdings Forty-Three Inc. for $14.4 million, or $48 per square foot.
Third-party logistics firm DCG Fulfillment is the sole occupant of the property, which sits on a 13-acre site and has 6,900 square feet of office space, 43 dock-high loading doors and two ground-level ramps. It was built in 1989.
This is the firm’s first investment in Southern California and, according to BlackRidge principal Anthony Brent, there will be others in the future.
BIT was represented by Frank Geraci, Jerry Nourse and Walt Chenowith of CB Richard Ellis’ Ontario office team.
Located in San Bernadino County, the city of Ontario has a population of 170,373. It is emerging as a business hub for the Inland Empire West submarket given its transit proximity including an airport, two railroads and four major freeways.