IE Business Daily Business news for the Inland Empire.
An industrial building that was recently constructed on the Inland Empire’s west side has been sold.
Montclair Logistics Center, a single-tenant structure that covers nearly 130,000 square feet, sold for $14.3 million, according to the Ontario office of Newmark Grubb Knight Frank.
The transaction was announced Thursday.
The building, which was fully leased at the time of sale, is at 4545 Brooks St. It has easy access to Interstate 10 and the 60 Freeway and includes several state-of-the-art features, including a fully-enclosed concrete truck court.
The buyer was Excelsior Partners LLC, a real estate investment company in Los Angeles that acquires industrial properties, usually in infill markets. The seller was Brooks Ramona Properties LLC in Pomona.
Newmark Grubb Knight Frank represented both parties in the transaction, which was negotiated off market.
“[Montclair Logistics Center] is an intuitional quality asset that makes a great addition to our portfolio,” said Casey Adams, principal and co-founder of Excelsior Partners, in a statement. “We intend to hold it for the long term.”
