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| Industrial site, 1388 W. Holt Ave. Pomona, CA |
INLAND EMPIRE, CA (Jan. 7, 2013) – Voit Real Estate Services
has successfully directed the $28.4 million acquisition of a 355,162
square-foot distribution center in Pomona, Calif. on behalf of both the buyer
and seller.
The buyer, CMC Dragon, LP, a furniture manufacturer and
importer, is relocating from Fontana, Calif. and plans to use the property as
its West Coast distribution center, according to Brian McLoughlin, a
Senior Vice President in Voit’s Greater Los Angeles office.
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| Brian McLoughlin |
McLoughlin and David Fults, also of Voit’s Greater
Los Angeles office, represented CMC Dragon, LP as the buyer in the transaction.
Frank Geraci, Walt Chenoweth, Juan Gutierrez, and Patrick
Wood of Voit’s Inland Empire office represented CH Realty III as the seller
in the transaction.
“Demand for large industrial product in the Inland Empire
continues to climb, and the fact is that available product for sale in this
size range is now scarce,” explained Geraci, an Executive Vice President at
Voit.
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| David Fults |
“In order to
identify a property within the geographic boundaries of the San Gabriel Valley
with enough space to meet the distribution needs of the buyer, we drew upon our
strong relationship with the seller to locate an off-market opportunity.”
Geraci notes that this is the fourth asset the Voit team has
successfully marketed for the owner this year and the second disposition of a
significant industrial asset by Voit’s Inland Empire and Greater Los Angeles
offices in 2012. Voit’s Asset Services
Group was also responsible for maintaining the assets, which totaled over one
million square feet, during and after lease-up.
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| Walt Chenoweth |
The property is located at 1388 W. Holt Avenue in Pomona,
Calif.
Contact:
Jenn Quader/Judith Brower
Brower, Miller & Cole
(949) 955-7940
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