The Inland Empire, which has for a long time been one of the top industrial markets in the nation, has seen a number of properties hit the market over the last several years. One property that is currently available for sale is a 374,180 square foot property in Fontana.
The property is marketed by Stream Realty’s Brad Yates and Stefan Pastor, according to the marketing brochure. The property is currently owned by an entity linked to Fontario Land Inc., according to public records, and is listed for sale with pricing guidance undisclosed.
Located at 15500 Valencia Ave., the property was built in 1981 and consists of three buildings on 8.59 acres. The property serves both warehouse and manufacturing uses and is currently occupied by a single tenant, Fontana Wholesale Lumber, according to the company’s website.
Situated in the western portion of Fontana just six miles from the BNSF Intermodal yard, the property is primarily surrounded by other industrial structures. Some of the nearby occupants include Mega Recycling, Hawk Transportation, Continental Pallets and more.
The larger Inland Empire is home to a significant amount of industrial properties. According to a recent industrial market report from CBRE, the Inland Empire saw 2.19 million square feet of industrial space absorbed during the third quarter. Despite this, vacancy in the region has shot up year-over-year, with the third quarter recording a rate of 3.5 percent. Available sublease space in existing properties grew to more than 8.7 million square feet. There was an additional 1.5 million square feet of sublease space available in pre-committed under construction buildings as well. At the same time, leasing rates increased slightly to $1.50 per square foot per month.
