IE Business Daily Business news for the Inland Empire.
An Orange County company that develops and invests in industrial real estate in Southern California has purchased a facility in Rancho Cucamonga.
Alere Property Group in Newport Beach bought the warehouse distribution facility at 8700 White Oak Ave. for an undisclosed sum, according to a statement.
Built-in 2000, the 72,051 square-foot building is occupied by a third-party logistics company. It sits on 4.37-acres and is designed for “last-mile” deliveries.
“Rancho Cucamonga is a prime location for last-mile distribution, and 8700 White Oak Avenue is ideally positioned to serve this segment of the logistics chain,” said Doug McGilvray, vice president of capital markets at Alere Property Group, in the statement.
Alere owns more than 20 million square feet of industrial space in the Inland Empire, according to the statement.
Information about the seller, and the terms of the transaction, were not released.
