IE Business Daily Business news for the Inland Empire.
A two-story office building in Rancho Cucamonga has been sold for $6.2 million.
The structure at 9421 Haven Ave. was sold to a local buyer, according to CBRE, which helped negotiate the sale.
Names of the buyer and seller weren’t released.
“We are thrilled to have facilitated the sale of a vacant office building for north of $300 PSF,” said Sammy Cemo, first vice president at CBRE, in a statement. “This transaction underscores the increasing vacancy value in the Inland Empire West. The market has experienced such incredible owner-user demand, but with limited occupancy opportunities, owners are experiencing value premiums for their buildings.”
During the first quarter of this year, Rancho Cucamonga had an industrial vacancy rate of 7.6 percent, making it one of the strongest Inland Empire submarkets, according to CBRE.
