Known as the City Center Building, the property was sold by Foothill City Center Ltd. of Rancho Cucamonga and was 98% leased at the time of sale, according to John Ewart of the Ontario office of Grubb & Ellis. Ewart represented the buyer, whose purchase included some 1031 Exchange proceeds. The seller was represented by Bob Dutton of Dutton & Associates, whose office is in the building that was sold.
The four-story, poured-in-place concrete building was constructed in 1986. It and a twin building are described as representing the best office space in Rancho Cucamonga, a solid office market in which the sister structure also is more than 90% occupied, Ewart says.
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