Industrial space continues to trade in the Inland Empire. An entity tracing to New York-based Wafra Inc. acquired a 76,809 square foot distribution center in Fontana for $28.43 million, or about $370 per square foot, according to Vizzda records. The seller in the transaction was an entity affiliated with Compass Danbe Real Estate Partners.
The property is located at 14815 Hilton Drive and consists of one building on a more than three-acre site. The building was constructed in 2022 and contains approximately 5,692 square feet of office space in addition to the industrial space with two grade-level doors and eight dock-high doors.
The property is situated north of Foothill Boulevard and the Auto Club Speedway. Various industrial properties are located within the vicinity, including a Target distribution center, eShippping Distribution Services and others. The property is also closely located to Interstate 15 and State Route 210.
Fontana has seen a number of industrial deals in recent months.
In March, Alere Property Group paid $38.9 million for more than 17 acres of industrial land in Fontana. The seller in the transaction was CP Fontana, according to an announcement from NAI Capital Commercial, which brokered the deal. The site is located at 13592 Slover Ave. just off Interstate 10 between N Etiwanda Ave and Cherry Ave. The site is entitled for two industrial buildings totaling approximately 350,000 square feet.
Prior to that in February, NASCAR development partner Hillwood paid $544 million for a portion of land at the Auto Club Speedway. Located at 9300 Cherry Ave., the portion of land consists of approximately 633 acres. The property was sold by NASCAR.
