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| Paul Earnhart |
San Francisco, CA (Oct. 7,
2016) -- Newcastle Partners, Inc., a San Francisco-based real estate investment
and development company, announced today it has sold Ontario Airport Distribution Center, a 102,440-square-foot Class A
industrial property, for $12 million to an owner-user in Ontario, CA.
The buyer, Parter Medical
Products, LLC, is a preeminent manufacturer of quality, single use, plastic,
laboratory products for healthcare, medical and pharmaceutical research
markets. With two locations in Carson, CA, this new facility is Parter’s first
in the Inland Empire.
The property is situated
on 5.12 acres at 1521 South Hellman Avenue. It features 5,000 square feet of
two-story executive office space, 30’ minimum clearance height, 18 doc doors,
one ground-level loading door, an ESFR sprinkler system, and offers immediate
access to the 10, 15 and 60 freeways.
Paul
Earnhart of Lee & Associates represented the buyer. Jeff Bellitti and Mike McCrary of JLL represented Newcastle Partners.
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| Jeff Bellitti |
Over the past two years,
Newcastle has acquired, developed or sold in excess of 2 million square feet of
industrial property in the region, and the firm plans to be even more
aggressive for the balance of 2016.
“Newcastle continues to be
bullish on developing quality industrial facilities in the Inland Empire,” said
Jackson Smith, partner with
Newcastle Partners. “Because industrial occupancies are extremely hard to find
in the adjacent counties of Orange and Los Angeles, and as demand remains
robust for larger spaces, we see this market as one that will have longevity
for distribution, warehouse and manufacturing users well into the future.”
For a complete copy of the company’s news release,
please contact:
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