Avison Young brokers $7.5 million acquisition of a 45,000-sf cold storage industrial building in Colton, CADecember 10, 2021
Ontario, Calif. – Avison Young announced today the $7.5 million acquisition of a 45,000 square-foot cold storage manufacturing facility located at 1750 N 8th Street, Colton, CA.
Avison Young Principal Cody Lerner who is located in the firm’s Inland Empire office, represented the buyer, New Jersey-based Integreon Global. The seller, Modu Food Factory, LLC was represented by Urban Real Estate’s David Hong and Allen Lee Kwon.
The buyer will use the space for its company, Cryopak, a designer and manufacturer of cold chain packaging solutions and refrigerants for temperature-sensitive pharmaceutical, biotech and life sciences shipments. Once tenant improvements are complete, move-in is anticipated for early 2022 and will be Cryopak’s first Inland Empire location.
“This property was an absolute perfect fit for our client. Cold storage properties are almost impossible to find fully built-out, and with the costs and time in the buildout, our client pounced on this opportunity,” said Lerner
Built in 1984 and situated on 4.28 acres, the property features a food processing plant including cold storage. The property also includes a large, secured yard and excess land for expansion.
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 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
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For more information:
- Cody Lerner ([email protected]), Principal | Ontario, California: +1 951.267.2752