IE Business Daily Business news for the Inland Empire.
The longtime Pomona home of an aerospace and defense contractor has been sold.
Garey Tech Center, which has been occupied by Hamilton Sundstrand since the building opened in 1962, sold for $16.5 million, according to Colliers International.
Colliers represented both parties in the transaction: the Lincoln Property Company and Morgan Stanley Real Estate Fund that sold the 134,500-square-foot building and the Orange County-based buyer whose name was not released, according to a statement released this month.
“This is one of the most valuable pieces of real estate in the Pomona Valley aerospace corridor,” said Clyde Stauff, senior executive vice president and an industrial properties specialist with Colliers International Irvine, in the statement. “The property has the potential to be leased to multiple tenants, sold or rezoned.”
It’s not clear whether Hamilton Sundstrand, which is part of UTC Aerospace Systems, will remain in the building when its lease expires in 2018.
The building, which Hamilton Sundstrand once owned, has four wings. It’s at the southwest corner of Garey and Bonita avenues and is within walking distance of the Pomona Metrolink station. It’s also close to Interstates 10 and 210 and the 57 and 60 freeways.
