Fontana is seeing more industrial properties trade hands. According to public records, an entity linked to Chicago-based LaSalle Investment Management acquired a nearly four-acre industrial site in Fontana for $14 million. The property was sold by an entity linked to Charles Edward Dubay.
Located at 15060 Ceres Ave. and contains a 6,000 square foot building constructed in 2002.
The new owner of the property, LaSalle Investment Management, is a Chicago-based real estate investment management firm and subsidiary of Jones Lang LaSalle. According to the firm’s website, LaSalle Investment Management maintains approximately $79 billion worth of assets under management across 14 countries.
The property is located among various other industrial properties in the western portion of Fontana. Both Interstate 10 and 15 are near the site. The Auto Club Speedway is also just west of the site.
Earlier this year, a portion of the Fontana racetrack was sold by NASCAR for $544 million. The property was sold to Hillwood, which has served as a development partner of NASCAR over the last several years. The Auto Club Speedway is located at 9300 Cherry Ave. on approximately 633 acres and currently consists of a two-mile track with a seating capacity of approximately 122,000.
Another industrial transaction in Fontana that took place over the past year involved the sale of a 1.1 million square foot industrial property at 10545 Production Ave. The 46-acre property was sold to Rexford Industrial Realty for $365 million, or about $331 per square foot. The property was sold in a sales-leaseback transaction by Tireco, a distributor of tires and tire-related products.