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Bendetti Bags Colton Industrial Park
The Bendetti Company acquired La Crosse Business Park, a six-building, multi-tenant flex industrial park in Colton for $12.3 million. The 112,259-square-foot property is situated on 7.5 acres on five contiguous parcels at 2273-2283 La Crosse Ave.
The Bendetti Company’s Aaron Weaver says, “We saw an opportunity to acquire an asset in our backyard that has not been available for decades and are excited to implement a business plan of substantial improvements that will benefit current and future tenant base.”
The 85%-leased asset is home to 27 tenants and features clear heights ranging from 14 to 16 feet, large overhead roll-up doors and concrete tilt-up construction. Completed in 1989, the park had been previously owned and operated by the same individual for more than 20 years.
JLL Capital Markets arranged $10.1 million in acquisition financing for the park. JLL’s John Chun and Peter Thompson placed the two-year, floating-rate, non-recourse loan with Prime Finance.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition
