Dermody Properties acquires 265,500 SF logistics building in prime California Inland Empire West submarket
We recently acquired a 265,500-square-foot logistics building in an established industrial business park in Fontana, Calif.
Dermody Properties will make improvements to the building in the first quarter of 2019, including upgrading the fire system to ESFR, making aesthetic changes and demising the building into two spaces, although the property will be available to either a one-or two-tenant scenario.
The site is located at 14605 Miller Avenue, two miles east of I-15. It is accessible via either Foothill Blvd. or Baseline Ave. and is 3.5 miles from the I-210/I-15 interchange and 5.5 miles from the I-10/I-15 interchange. It is 10 minutes from Southern California’s Ontario International Airport.
“Due to its proximity to major freeways, there is excellent access to the Southern California population and other parts of the country,” said Dermody Properties’ Southwest Region Partner, Pat Gallagher. “This submarket is well suited for distribution companies. Its competitive advantages in this market are its cross-dock loading and its 69 dock-door count, which is rarely found in a building of this size. It will be an ideal location for one or two customers serving west coast markets and beyond.”
Ryan Athens and Hunter McDonald of CBRE represented the seller for the acquisition.
Frank Geraci, Juan Gutierrez and Adam Geiger of VOIT Real Estate Services will market the space for Dermody Properties.