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Newcastle Partners Divests Newly Built Fontana Warehouse
Newcastle Partners, a full service commercial real estate development and investment company focused on the greater Los Angeles and San Francisco Bay Area marketplaces, closed the sale of a 96,519-square-foot industrial building located on 4.7 acres of land at 16355-16381 Slover Ave. in Fontana.
The industrial logistics center was sold for $37 million by Newcastle to LBA Realty. CBRE and Colliers represented the sellers.
Newcastle completed construction of the building in June. It features 12 dock doors and 5,094 square feet of office space. The project benefits from its proximity to I-10, I-15, and Highway 60.
“Our team did an amazing job pushing this project over the goal line,” said Jackson Smith, partner, Newcastle Partners. “We were able to deliver an institutional quality industrial asset to a sophisticated buyer despite challenging macro market conditions and an uptick in inventory in the 100,000-square-foot size category for industrial.”
- ◦Sale/Acquisition
