POMONA, CA-Buyers have paid more than $14 million for three industrial and office properties in recently closed transactions, the largest of them the $6.8 million sale of a 78,000-sf industrial park here. The others are in Los Angeles and Valencia.
In the Pomona transaction, Belvedere Plumbing Co. acquired Pomona Business Park, a six-building, multitenant industrial park totaling 77,922 sf on 4.33 acres. The property is at 310-380 East End Ave. and 1605-1649 East Mission Blvd.
The asset represents a stabilized investment for a long-standing entrepreneur who has operated his business in Pomona for many years, comments Alan Pekarcik of the Irvine office of Voit Commercial Brokerage. Pekarcik and Daniel Vittone of Voit represented the buyer and the seller, Pomona San Bernardino Co.
The business park was 97% leased at the time of the sale, with 44 tenants. The suites range from 1,070 sf to 4,806 sf. The park was built in 1979 and renovated in 1999.
In the Los Angeles deal, Ridgestone Corp. bought a 15,694-sf office property at 5400 Beethoven St. from Beethoven Partners for $4.2 million. The property is a two-story, single-tenant building on approximately 30,000 sf of land.
Robert Appell and Brad Vickery of GVA Daum represented the seller. The buyer plans to reconfigure the property into a multitenant office building. Doug Marshall of the Klabin Co. represented Ridgestone.
In the Valencia transaction, RFB, LLC and K4 Anza Property LLC bought a 23,146-sf industrial R&D facility on 44,100 square feet of land at 24907 Anza Drive for $3.1 million. Michael Corbin and Kevin Tamura of GVA Daum represented the seller, Salamone Family Trust, with the buyer represented by Westcord Commercial Real Estate Services.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.