IE Business Daily Business news for the Inland Empire.
A 17,360-square-foot industrial building in Ontario has been sold for $3.4 million.
The multi-tenant structure at 1804-828 E. Elma Court has 13 fully-occupied units, according to 36th Street Partners, the El Segundo-based industrial investment firm that purchased the property.
Built in 1982, the building sits on 1.3 acres in a part of the city reserved for light industrial use.
JW Capital was an equity partner in the transaction, which was announced Feb. 27. The seller’s name was not disclosed.
“We saw this asset as an ideal opportunity,” said Adam Norvell, founder and managing Partner of 36th Street Partners, in a statement. “The property is in a coveted infill location just north of Ontario International Airport with little to no new comparable product nearby.”
36th Street Partners is looking to buy Southern California Industrial and iPhone Operating System properties that are worth at least $10 million, according to the statement.
