Avison Young brokers $5.2 million acquisition of a 2.27-acre industrial site in Ontario, CA

Avison Young brokers $5.2 million acquisition of a 2.27-acre industrial site in Ontario, CA April 24, 2023

Ontario, Calif. – Avison Young, announced today the $5.2 million acquisition of an approximately 15,244-square-foot industrial building situated on 2.27 acres of land at 1250 E. Francis Street in Ontario, Calif.

Avison Young Principal Cody Lerner, who is based out of the firm’s Inland Empire office, represented the seller, Dobecha Investments, as well as the buyer, First Industrial Realty Trust.

The property is within the prime Ontario International Airport area submarket with easy access to the 60,10 and 15 freeways.

First Industrial was the ideal buyer for this asset,” said Lerner “Our team is pleased to successfully complete this transaction despite the challenges due to the current market conditions and debt market being a moving target.”

First Industrial Realty Trust, who is headquartered in Chicago, is a REIT and leading owner, operator, and developer of industrial real estate. Providing a range of supply chain solutions, First Industrial owns and has under development approximately 64 million sf of industrial space in the top North American industrial markets.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.

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