IE Business Daily Business news for the Inland Empire.
Ontario Airport Distribution Center, a 102,440-square-foot facility, has been sold.
The building, at 1521 S. Hellman Ave., sold for $12 million to Parter Medical Products LLC in Ontario, according to a statement.
The seller was Newcastle Partners Inc., a San Francisco-based real estate development and investment company.
Parter Medical manufactures plastic laboratory products for the healthcare, medical and pharmaceutical research markets. This is its second location – it has one in Carson – and its first in the Inland Empire.
Information regarding how many people will work there and when Parter Medical plans to move in was not released.
During the past two years, Newcastle Partners has bought, developed or sold more than two million square feet of industrial property in the Inland Empire, and it expects to be even more aggressive in the region in the near future, according to the statement.
