Investment Firm Duo Buys 91,000-Square-Foot Industrial Property in San Dimas
RanchHarbor and Manhattan West, two Southern California real estate investment companies have teamed-up to purchase a five-acre, multi-tenant industrial warehouse property in San Dimas, CA. The four buildings encompass 91,000 total rentable square feet across 44 individual suites. Terms of the deal were not disclosed.
The asset is located in the East San Gabriel Valley on Allen and Cataract Avenues. “The San Dimas investment represents a unique opportunity to purchase a multi-tenant industrial asset in a desirable and highly supply-constrained San Gabriel Valley submarket,” said RanchHarbor’s John Meek in a news release. “We are excited to have secured the asset with Manhattan West and we look forward to executing on another well-thought-out business plan with their team.”
The property was originally built in 1975, renovated in 2005, and has a 10-year historical average occupancy of 95%. It’s location gives it efficient connectivity to Interstates 210, 10, 605 and 15.
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.