More industrial space is trading in Fontana. In one recent deal, TPA Group paid $19.9 million, or about $296 per square foot, for a 67,113 square foot industrial asset. The property was acquired from an entity tracing to Adam Chrisman, with $11 million in new debt with Hartford Investment Management, according to Vizzda records.
The property is located at 8425 Almeria Ave. and consists of a single building constructed in 2004 on approximately three acres. According to Google Maps, the property is currently occupied by SunEarth, a solar energy equipment supplier.
The building is situated just south of Foothill Boulevard and to the northeast of the Auto Club Speedway. The site is also within close proximity of both Interstates 15 and 10.
TPA Group is based in Atlanta and has developed and invested in every asset class in locations across the country, according to its website. The firm has invested in $30 billion worth of assets across the country. Since 2015, the firm has developed approximately 29.39 million square feet of industrial space.
Fontana has seen a number of industrial deals over the past several months.
In one recent deal, LaSalle Investment Management acquired a 35,400 square foot industrial property for $13.28 million, or about $375 per square foot. The property, which is located at 14978 Ceres Ave., was sold by an entity linked to Bradley Kaplan of Trojan Concrete Coring.
Prior to that, LBA Logistics acquired a 95,600 square foot industrial property at 16355 Slover Ave. for $37 million, or about $387 per square foot. The property was sold by Newcastle Partners.
