ONTARIO, CA-BlackRidge Real Estate Group has acquired a fully leased, 302,020-square-foot distribution center at 1000 Etiwanda Ave. from BIT Holdings Forty-Three Inc. for $14.4 million.
The steel-frame, concrete tilt-up distribution building is 100% leased to third-party logistics firm DCG Fulfillment. It sits on a 13-acre site and was constructed in 1989.
Commenting on the acquisition, Anthony Brent, a principal of BlackRidge, said that the Etiwanda Avenue building marks the first investment here for the Los Angeles- and Denver-based company, which is “eager to expand.” Other BlackRidge principals include Brett Tremaine, John Seiple and Ryan Martin.
BIT Holdings Forty-Three Inc. was represented by the CB Richard Ellis Ontario office team of Frank Geraci, Jerry Nourse and Walt Chenoweth.
BlackRidge is a real estate investment and operating company seeking leased and value-add properties in the industrial sectors of Southern California and Phoenix. Its portfolio of current projects totals over three million square feet and includes investments and developments in Arizona, California, Florida and Virginia.
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