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California  + Inland Empire  + Retail  | 

Seven-Building Business Park Sold in Montclair

Montclair Business Center, a 96,363-square-foot, multi-tenant business park in Montclair, CA, has traded hands for $13.725 million. The buyer was Trico Yale Business Park, LP, while the seller was Holualoa Montclair Business Center, LLC.

The asset is 92% occupied by 42 light-industrial, office and retail tenants. Built in 1980, the property comprises seven buildings located on 6.02 acres at 4650 Arrow Highway, and recently underwent several major upgrades, including new exterior paint, new landscaping and replacement of several roofs.

Avison Young’s Alan Pekarcik and Chris Smith represented the seller. The buyer was self-represented, and plans to continue utilizing the asset as a multi-tenant business park.

“The Montclair Business Center is advantageously positioned in the Inland Empire, one of the hottest industrial investment markets in the nation,” Pekarcik comments. “It has seen continual rent growth, with further gains expected, based on the lack of new construction of similar product and the steady increase in the region’s population.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition