Another industrial asset has traded hands in Fontana. According to Vizzda records, an entity affiliated with Union Pacific Railroad purchased a 118,984 square foot distribution facility for $75 million, or about $630 per square foot. The seller in the transaction links to Budway Enterprises, which also appears to be the site’s occupant.
The property is located at 13600 Napa St. and consists of a single distribution building on more than 16 acres of land. The building was constructed in 1998 and has five rail spikes that travel into the facility.
The property is surrounded by various other industrial users, including Excel Logistics, Maas Hansen Steel and various others. Interstates 10 and 15 are also closely situated to the property.
Fontana has seen a number of other industrial assets trade hands over the past year.
Last month, The Registry reported that LaSalle Investment Management acquired a 60,102 square foot industrial property in Fontana for $14.75 million, or about $245 per square foot. The property is located at 8395 Sultana Ave. and was sold by an entity affiliated with Stuart D. Heath.
Prior to that transaction, TPA Group paid $19.9 million, or about $296 per square foot, for a 67,113 square foot industrial asset also in Fontana. That property, which was sold by an entity tracing to Adam Chrisman, is located at 8425 Almeria Ave. and consists of a single building constructed in 2004 on approximately three acres.
