Ontario Commerce Park II

INDUSTRIAL | Sold

Description

  • Located in the highly desirable West Inland Empire industrial submarket, this strategically located project has historically enjoyed high occupancy rates.
  • A Value-Add opportunity with existing rents averaging 35% below market rates creating the opportunity to significantly increase lease rates at lease expiration.
  • An abundance of desirable features including a high identity location grade level and dock high loading positions, and 16' to 26' warehouse clear heights.
  • Desirable unit sizes that can easily accommodate tenant expansion and contraction within the project, resulting in excellent tenant retention.
  • The project has recently undergone extensive renovations, some of which include landscaping upgrades, HVAC replacements and asphalt reseal and restriping.
  • Situated mature submarket with limited new development opportunities, the project will trade at a fraction of the replacement cost of the project.
  • Low finish industrial units with low costs on retenanting and turnover.
  • Offering 477 linear feet of frontage on in Milliken Ave. a major thoroughfare with a daily traffic count of 39,872 cars per day (as of 2014) which provides excellent street signage and identity.
  • Situated in a historically strong submarket with a low current vacancy rate of 2.54% and an even lower vacancy rate of 2.03% in the city of Ontario.
  • Strategically located with convenient access to the Santa Monica (I-10), Ontario (I-15) and Pomona (SR-60) Freeways, as well as convenient access to the Ontario Airport (3.0 miles), John Wayne Airport (42 miles), Los Angeles Airport (58 miles) and the Ports of Los Angeles & Long Beach (62 miles).

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.