Alan Pekarcik of Voit Commercial's Irvine office, who was part of a Voit team that brokered the sale, says the new owner has purchased the property for its LBA Realty Fund, which is composed of value-added office and industrial investments throughout the West Coast. Other members of the Voit team, which represented both the buyer and the seller, were Mike Hefner of Voit's Anaheim Metro office and Dan Vittone of the company's Irvine office.

Pekarcik notes that Ontario Airport Commerce Center, which is situated adjacent to the Ontario International Airport, is located in a continuously growing market. The property has a history of strong institutional owners who have kept it well maintained throughout the years since it was developed in 1989, Pekarcik adds. The recent purchase, in fact, marks the second time Layton-Belling has acquired the Ontario property. In 1997, Layton-Belling acquired Ontario Airport Commerce Center from Nyala Properties, an entity controlled by Carl Ross. The firm later sold the property to Arden Realty Inc. in 1998, which subsequently sold the property to SZA Real Estate in 2001. The property consists of three multi-tenant industrial buildings totaling 213,127 sf. The buildings include a 17,760-sf facility at 1920 Archibald, a 60,007-sf facility at 1910 Archibald, and a 135,360-sf distribution facility at 1900 S. Proforma.

The industrial park, which was 95% leased to local tenants at the time of sale, is one of a number of properties that Layton-Belling has closed on recently. As reported on GlobeSt.com, the investment firm's other recent closings include two office properties that it bought from Chicago-based Equity Office Properties Trust: the 118,843-sf Oakbrook Plaza in Laguna Hills and the 57,245-sf East Hills Office Park in Anaheim Hills. The Anaheim Hills acquisition also included 4.1 acres of land immediately adjacent to the property that is entitled for a 62,500-sf office building.