Dunleer Acquires Vacant Industrial Building in Covina
Dunleer has purchased a 32,000-square-foot vacant industrial building for $5.4 million, or $170 per square foot in Covina, CA and plans a major renovation. The property is located in the heart of the San Gabriel Valley in an area that is a hotbed for industrial leasing.
“With Los Angeles County’s industrial vacancy rate currently below 1.5%, vacant buildings ready for immediate move-in are almost non-existent,” said BJ Turner, Dunleer’s founder in a news release. “We are now embarking on a major renovation that will enhance the asset, including new gating, lighting, fencing, paving, offices and more. Upon completion, we will bring the property to market for lease and look forward to welcoming a new tenant.”
Built in 1962, the building is situated on 1.5 acres with easy access to to the 10, 210, 605 and 57 freeways and is less than 20 miles from Ontario International Airport.
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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