Duke Acquires Pair of SoCal Industrial Facilities
Two industrial buildings totaling 873,870 square feet in the SoCal communities of Fontana and City of Industry sold for an undisclosed amount. An HFF team represented the seller, Bridge Development Partners, LLC, and procured the buyer, Duke Realty Corporation (Duke).
The two assets are part of a larger $700-million, 12-property industrial portfolio that Duke purchased from Bridge Development.
The portfolio comprises a 429,870-square-foot building at 825 South Ajax Ave. in Industry (pictured) and a 444,000-square-foot facility at 11250 Poplar Ave. in Fontana. The Poplar Avenue building was completed and leased in 2016, while Ajax Avenue was completed in 2017 and was delivered on a shell basis.
HFF’s investment sales team representing the seller included Anthony Brent and Ryan Martin.
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