NAI Capital Completes Prime Land Development Sale in Fontana, CA
Irvine, CA – April 9, 2019– Executive Vice President David Knowlton with NAI Capital’s Irvine office negotiated the sale of 7.42 acres of land in Fontana, California to an undisclosed buyer. NAI Capital represented the seller, Juniper Valley, LLC. The land sold for $4,945,000 or $666,442 per acre.
The land is located at 16655 Valley Boulevard and 16606 Washington Drive. 16655 Valley Blvd included 6.8 acres on a hard corner location with flat topography and 518 feet of frontage on Valley Boulevard and 660 feet on Juniper Avenue. The land is zoned C-2 and allows for retail, R&D, office and medical uses. An adjacent 0.62-acre parcel on Washington Drive with freeway frontage was included in the sale. The site is surrounded by major retail centers and new residential development.
The acreage is ideally situated along Valley Boulevard, a major east-west thoroughfare that sees approximately 21,000 cars per day. Within three miles of the site there are 145,028 residents, 35,420 employees and an average annual income of $65,924.
David said, “As the market tightens it is getting more difficult to find larger prime land parcels available for development. This sale presented an excellent opportunity to take advantage of the area’s rapidly improving commercial corridor.”
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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