NAI Capital Completes $5.5M Sale of Warehouse/Manufacturing Facility in Ontario, CA
Ontario, CA, July 10, 2018 – Senior Vice Presidents Richard Lee, SIOR and Nicholas Chang, CCIM, SIOR and Senior Associate Justin Kuehn with NAI Capital’s Ontario office completed the sale of a 32,834 square foot warehouse/manufacturing facility in Ontario, Calif. Richard, Nicholas and Justin represented the seller, Walker Obioha Family Trust. The buyer was Catry International LLC. The building sold for $5,531,872 million or $168 per square foot.
The building is located at 1100 N. Hellman Avenue within the Airport area submarket of the Inland Empire. Built in 2000, the single-story building is a free standing, concrete tilt-up, warehouse/manufacturing facility. It has 6,431 square feet of office space with 6,230 square feet of temperature controlled lab and manufacturing space. It has an excellent warehouse functionality with 26' minimum ceiling clear height, three exterior dock high doors and 2 grade level doors. The project was 100% occupied at the time of the sale.
Lee said, “We are seeing strong demand from investors and users to purchase industrial assets.” He adds, “The Inland Empire industrial market is one of the most sought after in the nation - with industrial sales at record levels – driving up demand and pricing. Good product is in short supply. This project received a flurry of activity, as we were able to generate 20 private tours of the asset resulting in 2 bona fide near full price offers within just weeks of hitting the market.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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