NEWPORT BEACH, CA-Turner Development Corp. has sold a 40,793-sf building in the Turner Grove Business Park in Ontario. The last of nine buildings in the 248,989-sf project, the building was sold to Grand View Glass & Metal of Chino for $2.2 million or $55 per sf.

“We are very pleased with how the market responded to this project,” says Rusty Turner, founder of Turner Development. “All nine buildings were either leased or sold within 120 days from completion. Most of the buildings were sold to small business owners and entrepreneurs who chose to own rather than lease.”

Located south of the Ontario Airport just off of the 60 freeway at Grove Ave., each building is freestanding and surrounded by a fenced yard. The entire project is valued in excess of $14 million. The first phase, completed in March 1999, consisted of six buildings totaling 163,257 sf. Five of the buildings sold and one was leased 90 days from the date of completion. The second phase, which was completed in August, consisted of three buildings totaling 85,732 sf. All three buildings sold within 120 days of completion.

John Espinosa of Lee & Associates’ Industry office represented the buyer, and Walt Arrington of CB Richard Ellis’ Ontario office acted for the seller.

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