IE Business Daily Business news for the Inland Empire.
A business park in Ontario that is geared toward start-up and early stage businesses has been sold.
Airport Wineville Business Park, a four-building “incubator” facility, sold to Wohl Investment Co. in Newport Beach for $4.5 million, according to Colliers International Ontario.
The seller was McLellan Estate Co. in Belmont, which owns and operates residential and commercial properties throughout California, according to the company’s website.
More than 10 qualified buyers, both regional and local, bid on the 27-year-old property, said Patrick Barnes, vice president with Colliers and head of the brokerage team that negotiated the transaction.
Wohl’s track record with incubator properties made it the logical choice, said Barnes, who works out of Colliers’ Los Angeles office.
The park, which sits on 3.6 acres, covers nearly 54,000 square feet. It’s at Airport Drive and South Wineville Avenue and will accommodate up to 43 individual tenants, Colliers stated.
