Ontario, CA – March 7, 2023 – NAI Capital Commercial is pleased to announce the $38,906,000 sale of 17.42 acres of industrial zoned land in Fontana, California. Richard Lee, SIOR, Nicholas Chang, CCIM, SIOR, Justin Kuehn, and Sione Fua of the Lee Chang Kuehn Fua Group with NAI Capital Commercial’s Ontario office represented both the buyer, Alere Property Group LLC (Alere), and the seller, CP Fontana. Alere is a real estate operating company specializing in the development, acquisition, and management of industrial properties in the Western United States.
The site is located at 13592 Slover Ave in the Inland Empire West submarket and is strategically located to serve the logistics industry, just off Interstate-10 between N Etiwanda Ave and Cherry Ave. The site offers excellent proximity to the 15, 60 and 91 Freeways. The site is entitled for two class A warehouse-distribution buildings totaling approximately 350,000 square feet. Alere plans to develop the property in 2024 and offer the buildings for lease.
Nicholas noted, “Once developed, this project will be an excellent addition to Alere’s Southern California portfolio of Class A, institutional quality assets.”
“Demand for quality industrial distribution facilities and industrial land remains strong, which in turn has sustained values for both Class-A bulk distribution facilities and land. Rental rates, sales prices, and land values continue to be solid,” added Richard.
Sione said, “This was an excellent opportunity for our client to do what they do best – acquire well located land and build sleek, modern industrial facilities for lease”.
About NAI Capital Commercial
NAI Capital Commercial is the largest agent and employee-owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 300 brokerage offices and over 5,100 professionals spanning the globe, NAI Capital Commercial provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital Commercial offers innovative, customized solutions and seamless service to owners, tenants, investors, and developers throughout Southern California. Our clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital Commercial we work together putting our clients first.