CenterPoint Buys Development Site for $10M
Connect Inland Empire is planned for Wednesday, October 18th. Here’s where to register for the conference.
Harrison Nichols Company sold an 8.9-acre land site in Irwindale, CA for $9.8 million to CenterPoint Properties, a privately-owned industrial developer. The land, which housed the seller’s operations for more than 40 years, is currently leased to United Parcel Service (UPS) for vehicle storage.
JLL’s Mike Fowler represented the buyer in the transaction. DAUM Commercial’s Dennis Sandoval and Tom Phelan handled the deal for the family-run, SoCal-based long-term truck hauling business. The property is located at 5265 4th St.
Sandoval says, “With limited infill land sites in the supply-constrained region, the opportunity to acquire this property proved very appealing to several developers. San Gabriel Valley’s industrial vacancies are holding in the low-2% range, so this is an investment that will prove highly valuable for the buyer.”
For comments, questions or concerns, please contact Dennis Kaiser