Inland Empire Industrial Asset Sells for $16M
- Mar 07, 2019
Voit Real Estate Services has arranged the sale of a newly constructed 120,575-square-foot freestanding industrial facility in Rialto, Calif. Compass Danbe Real Estate Partners LLC sold the property for $15.9 million. Voit Real Estate represented both the seller and the buyer in the transaction. The asset is leased to the buyer’s affiliate, Magnolia Foods.
Located at 1450 Alder Ave., the industrial facility is near interstates 215 and 15 and freeways 210 and 66. Additionally, the asset is approximately 14 miles from San Bernardino International Airport and 52 miles from downtown Los Angeles. The newly constructed facility is within the Renaissance master-planned development of Rialto and features 22 dock-high loading doors, an ESFR fire sprinkler system, 32-foot minimum ceiling clear height, a 181-foot truck court and 2,000-amp electrical services. Additionally, the asset includes a 6,000-square-foot, two-story office space.
“The Inland Empire industrial market is extremely active, with approximately 25.8 million square feet of industrial product under development at the start of 2019,” said Juan Gutierrez, vice president at Voit Real Estate Services, in prepared remarks. “In spite of these new deliveries, there continues to be a tremendous lack of quality for-sale industrial product in the 100,000 to 200,000 square-foot size range. Compass Danbe is addressing this need in the market by developing more than five ground-up industrial properties in Rialto.”
Image courtesy of Voit Real Estate Services