Off-Market Industrial Establishes New Level

RANCHO CUCAMONGA, CA—An off-market industrial property here has changed hands, GlobeSt.com has exclusively learned. According to Colliers International, which negotiated the $14.7-million sale, the deal “established a new and higher price level buyers are willing to pay per square foot to acquire industrial property in the West Inland Empire market.”

Located at 9449 Eighth St., the 161,555-square-foot facility was purchased by a furniture distribution company that cited the building’s location, multiple loading docks, warehousing capacity and two-story office component all as factors in its decision to pay $91 per square foot for the facility.