The Inland Empire could soon see another industrial deal after a property was recently placed up for sale. According to a marketing brochure from MacLeod & Co., a 43,000 square foot industrial property in Ontario has been listed with an asking price of $15.5 million, or approximately $360 per square foot.
The property, which is located at 1720 South Carlos Ave., is marketed by Chase & MacLeod’s Chase MacLeod, Jean Carlo Castillo and Ethan Flor. The property is owned by a Walnut-based entity linked to Osivost LLC, according to public records. The marketing brochure indicates that the property would be delivered vacant at the close of escrow.
Built in 2001, the property stands two stories and features three loading docks and four dock high doors. The property is situated on 1.98 acres.
The building is located just south of the Ontario International Airport and is within close proximity of Interstates 10 and 15 as well as State Routes 83 and 60. The area is home to a number of industrial users, including Coastal Pacific Food Distributors, Niagara Bottling, American Jerky Company and various others.
Despite a number of industrial deals observed in the Inland Empire over the last several months, the overall marketplace has seen an increase of availability. According to a third quarter industrial market report from Savills, the third quarter saw vacancy increase to 5.2 percent, compared to 1.5 percent just one year ago. The report notes that this is partially due to a large amount of available sublease space as well as vacant construction deliveries. Overall, available sublease space climbed by 37.6 percent during the third quarter.
