Oakmont Industrial Trades 57,000-SF Building

ONTARIO, CA-Woofa LLC, the parent company for clothing manufacturer Famous Stars and Straps, has acquired a 56,682-sf industrial building at Greystone Industrial Park from Oakmont Industrial Group, developer of the three-building business park fronting the 60 Freeway at Milliken Avenue. The building, at 4070 E. Greystone Dr., traded for $116 psf on the shell, or more than $6.5 million, and and leaves two buildings of 106,514 sf and 207,718 sf that Oakmont is marketing for sale or lease at the industrial park.

The Irvine office of Atlanta-based Oakmont developed the business park on a 19-acre site that fronts the 60 Freeway one mile west of the Interstate15 Interchange. Oakmont was represented in the transaction by Frank Geraci, Walt Chenoweth and Dan De La Paz of CB Richard Ellis Inc. Woofa, LLC was represented by Jason Sparks of the Sparks Team Inc.

The Greystone Industrial Park is one of a number of Inland Empire developments in the pipeline for the Irvine office of Oakmont. Its others include a 617,500-sf LEED-certified industrial park that it plans to build on a 31-acre development site in Rialto that Oakmont acquired from a JV of Texas-based Hillwood Properties and Lewis Operating Corp. of Upland. The site is at the junction of the 210 Freeway and interstates 215, 15 and 10, a mile from the Rialto Municipal Airport.

Another of the company’s projects is planned for development at the 190-acre El Rivino Country Club, which Oakmont bought for $92 million from Rancho Cucamonga-based Cactus Investment LLC with Prudential Real Estate Investors and Hunt Realty Corp. as capital partners. Oakmont plans to redevelop the golf course land as a masterplanned business park with up to four million sf of space. When Oakmont bought the land, Tim Howard, Irvine-based Southern California regional partner for the company, described it as a “one-of-a-kind opportunity” to acquire such a large assemblage of land in one of the country’s strongest infill markets.