California + Inland Empire | April 26, 2023

Avison Young Handles Ontario Sale to First Industrial Realty Trust

Avison Young arranged the $5.2-million acquisition of an approximately 15,244-square-foot industrial building situated on 2.27 acres of land at 1250 E. Francis St. in Ontario.

Principal Cody Lerner, who is based out of the firm’s Inland Empire office, represented the seller, Dobecha Investments, as well as the buyer, Chicago-based First Industrial Realty Trust.

The property is within the prime Ontario International Airport area submarket with convenient access to the 60, 10 and 15 freeways.

“First Industrial was the ideal buyer for this asset,” said Lerner. “Our team is pleased to successfully complete this transaction despite the challenges due to the current market conditions and debt market being a moving target.”

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Avison Young's Lerner

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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