In the other sale, Los Angeles-based commercial real estate developer Overton Moore Properties reports that it sold a 71,810 -square-foot class A building at 1101 W. Rialto Ave. in Rialto to Procomp Electronics, an importer of aftermarket auto parts, for approximately $3.8 million. OMP was represented by Chenoweth, Geraci, Gutierrez and Wood. OMP vice president Jason Hines noted that the CBRE team is also marketing the sale of the project’s neighboring 247,226-square-foot LEED-certified industrial building at 181 S. Larch Ave. on behalf of OMP.

The lease in Fontana was for 43,816 square feet at 10681 Jasmine St., according to CBRE, which represented the landlord, the Los Angeles-based Sieroty Co. The tenant is Fidelity National Insurance Co., which will use the facility for records storage. The landlord was represented by Chenoweth, Geraci, Gutierrez and Wood.

Gutierrez says that the tenant chose the building for its state-of-the-art features and the fact that the it was already equipped with office space, warehouse lights and dock levelers that allowed for the tenant to have access to the building immediately. “Additionally, the building also has energy efficient lighting and a water conservation landscaping and irrigation system which will immediately lessen the tenants’ operating expenses,” Gutierrez points out. The full building totals 97,005 square feet, of which 53,189 square feet is occupied by MCR Safety.

 

NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.