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ONTARIO, CA-American Realty Advisors paid $103 million for the 1.1-million-sf Safari Business Center when the Glendale-based investment adviser acquired the property from Nevada-based entrepreneur Carl Ross, according to Marcus & Millichap. The deal was previously reported on GlobeSt.com as a $101 million sale, which was an estimate from industry sources.

Kevin Russell and John Burke in the Newport Beach office of Marcus & Millichap represented American Realty Advisors. The property is a class A multi-tenant industrial and office park consisting of 16 buildings, with approximately 90% warehouse space and 10% office space. Located at 2020 Lynx Trail, the business park is situated on approximately 52 acres near the 60, 10 and 15 freeways about a half mile south of Ontario International Airport.

The Safari Business Park was developed in phases, with buildingcompletions from 1989 to 1998. The property derives its name from its safari theme, including giraffe and elephant statues, game imprints as trim on building walls, and approximately 700 palm trees of various species around the perimeter. That theme, in turn, reflects the interests of developer Ross, who travels on safaris and owns a wine label named Safari. Ross has also developed a 250,000-sf industrial park near Las Vegas that bears the Safari Business Park name and is now working on a 300,000-sf second phase of that project.

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