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Avison Young brokers $5.2 million acquisition of a 2.27-acre industrial site in Ontario, CA
April 24, 2023
Ontario, Calif. – Avison Young, announced today the $5.2 million acquisition of an approximately 15,244-square-foot industrial building situated on 2.27 acres of land at 1250 E. Francis Street in Ontario, Calif.
Avison Young Principal Cody Lerner, who is based out of the firm’s Inland Empire office, represented the seller, Dobecha Investments, as well as the buyer, First Industrial Realty Trust.
The property is within the prime Ontario International Airport area submarket with easy access to the 60,10 and 15 freeways.
First Industrial was the ideal buyer for this asset,” said Lerner “Our team is pleased to successfully complete this transaction despite the challenges due to the current market conditions and debt market being a moving target.”
First Industrial Realty Trust, who is headquartered in Chicago, is a REIT and leading owner, operator, and developer of industrial real estate. Providing a range of supply chain solutions, First Industrial owns and has under development approximately 64 million sf of industrial space in the top North American industrial markets.
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