Avison Young completes acquisition of a 45,702-sf single-tenant industrial building in Rancho Cucamonga, CA13 Jan 2021
Irvine, CA – Avison Young announced today it has completed the acquisition of a 45,702 square-foot (sf) fully occupied single-tenant industrial building located at 8767 Rochester Avenue in Rancho Cucamonga, CA. The property is situated in San Bernardino County and is within the Inland Empire West submarket, a thriving industrial hub providing users access to major freeways and the Ports of Los Angeles and Long Beach.
Avison Young Principals Alan Pekarcik and Senior Associate Chris Smith who are based out of the firm’s Orange County office, represented the buyer, an Orange County-based private investor. The seller, a local private owner, was represented by Ryan Velasquez and Milo Lipson of Cushman & Wakefield.
“The buyer, who is planning on a long-term hold, was in a 1031 exchange,” said Smith. “This property was an ideal fit for our client, given the prime industrial location, desirable building attributes, and the below-market contract rent providing for future upside.”
The tenant is a China-based global logistics company specializing in ecommerce. Situated on nearly two acres and built in 1989, the property features 24’ clear height, eight dock high loading doors, and a small partial second floor office. Its location provides immediate access to the 10 freeway at Milliken Avenue and the 15 freeway at Foothill Boulevard or Fourth Street.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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For more information:
- Darcie Giacchetto, Places Public Relations, 949.278.6224