California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Stream Represents Forbes in Record $56M Warehouse Sale
An undisclosed buyer has purchased 1933 E. Locust St., a 106,000-square-foot warehouse in Ontario, CA. According to Stream Realty Partners which represented the seller Forbes Industries in the deal, the $56 million transaction is an Inland Empire record on a per-square-foot basis. Forbes has asked the new owner for a short-term sale-leaseback agreement.
“We are so pleased that our unique marketing process helped Forbes achieve a record sales price that surpassed even our own expectations. The continued climb of land and rent prices set against limited inventory has made the IE a premier industrial market in North America,” said Stream’s Senior VP Stefan Pastor who worked with the firm’s Brad Yates in the transaction. Colliers also assisted in the deal, representing both the buyer and seller.
The property includes a 13,000-square-foot office , heavy power and easy access to Interstates 10 and 15 as well as several regional airports.
- ◦Sale/Acquisition
