IE Business Daily Business news for the Inland Empire.
A cold storage/manufacturing facility in Colton has been sold for $7.5 million.
The 45,000-square-foot operation at 1750 N. 8th St was purchased by Integreon Global LLC in New Jersey, according to a statement released by Avison Young.
Avison Young represented Integreon Global in the negotiations. The seller, Modu Food Factory, LLC in Vernon, was represented by Urban Real Estate.
Cryopak, which is owned by Modu Food, will use the facility. It will be the company’s first Inland Empire facility and is expected to be ready for operation early next year.
Cryopak designs and makes cold chain packaging and refrigerants for the pharmaceutical, biotech and life science shipments.
Built in 1984, the building sits on 4.2 acres, which gives it room for expansion, according to the statement.
