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California  + Inland Empire  + Industrial  |  January 18, 2023
BGO Acquires Fontana Warehouse for $127M
Mark Nieto
By: Mark Nieto

BGO Acquires Fontana Warehouse for $127M

New York and Canada-based investment firm BentallGreenOak (BGO) has purchased a 381,000-square-foot Fontana, CA Warehouse for $127 million. According to the Press-Enteprise, the facility was acquired in late December from MetLife Investment.

LeSaint and TAGG logistics currently occupy the building which is located at 13204 Philadelphia Ave. near the intersection of South Etiwanda Avenue in the midst of Fontana’s warehouse region. The two companies are part of the Hub Group, based in Illinois.

While the Inland Empire has seen a bit of a slowdown in industrial leasing and sales due to economic headwinds, there is still plenty of investment demand. the price of the transaction for the 24-acre property works out to about $335 per square foot, roughly 10% higher than the market average.

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BentallGreenOakMetLife InvestmentHub Group

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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