NAI Capital Completes Investment Sale of 16-Unit Industrial Park in Rialto, CA
Ontario, CA – March 7, 2019, 2019 – Senior vice presidents Nicholas Chang CCIM, SIOR and Richard Lee, SIOR with NAI Capital’s Investment Services Group and vice president Justin Kuehn completed the sale of a 16-unit 30,938 square feet multi-tenant industrial park in Rialto, California. Nicholas, Richard and Justin represented the seller, 170 Arrowhead Partners, LLC. The buyer was a private investor. The transaction totaled $3,290,000, or $106 per square foot.
The multi-tenant industrial park is located at 170-190 N Arrowhead Avenue. The project included two-buildings, with 16 units ranging in size from 984 to 2,816 square feet, and an additional 39,000 square feet of excess land. All 16 existing units were occupied at the time of sale. Property features include grade level loading, 16' minimum clear, separately metered units, brand new roof and skylights. The site is in a central location with immediate access to I-10 freeway.
Nicholas said, “The property is divided into 34 separate parcels providing a unique condo sale exit strategy for the new buyer. The excess land also provides for additional build out potential.”
“The potential to more than double the number of existing units makes this an excellent long term investment,” Richard added.
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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