Cabot Properties Pays $12.53MM for 37,692 SQFT Industrial Property in Rancho Cucamonga

By Catherine Sweeney 

Cabot Properties is continuing to expand into Southern California, with the recent acquisition of an industrial property in Rancho Cucamonga. According to public records, an entity affiliated with the company purchased the 37,692 square foot building for $12.53 million, or about $332 per square foot. The seller in the transaction was Sixth Street Industrial LLC, an entity linked to Josh Kaplan. 

Located at 11699 Sixth St. on just over two acres of land, the property consists of an industrial building built in 1989. 

The new owner of the property is a Boston-based investment firm founded in 1986. Since its founding, the company has invested more than $14 billion in logistics real estate, serving more than 4,000 tenants. Cabot Properties also operates 1,600 buildings totaling more than 200 million square feet. 

The property is located in a primarily industrial area just north of the Ontario Mills shopping mall and Toyota Arena. The property is also proximate to Interstates 15 and 10 and a short commute to Ontario International Airport.  

In general, the area is home to a number of distributors, manufacturers and other industrial users and has seen a number of sales in recent months. In one such sale that took place in late October, Stockbridge purchased a 5.02-acre industrial site at 5551 State St. in Montclair for $20 million. The property was sold by an entity affiliated with Ronald C. Willemsen, and is home to a 2,565 square foot office space and a 17,500 square foot warehouse building.

Dermody Properties also recently acquired a seven-acre property in Ontario for $32 million. The property is located at 1600 E. Francis St. and consists of four industrial buildings totaling 13,074 square feet.