JPMorgan made a big splash in the tightest US industrial market this week with its $180 million acquisition of a 459,000 square foot Inland Empire warehouse from Irvine, CA-based JW Mitchell.
The purchase price for the industrial property in the San Bernardino City of Ontario translates into $392 per square foot, according to San Bernardino property records.
The deal was the largest industrial trade of Q2 2022, which has seen warehouses flipping like pancakes in the red-hot SoCal market, which is filled to capacity with microscopic vacancy rates of 0.1%.
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