March 14, 2018 – HFF announces the $24.1 million sale of Ontario Airport Commerce Center, a three-building industrial park totaling 213,603 square feet in the Los Angeles-area community of Ontario, California.
Situated on 5.5 acres at 1900 South Proforma Avenue and 1910 and 1920 South Archibald Avenue in Ontario, Ontario Airport Commerce Center is in the Inland Empire West Industrial market, one of the most highly sought-after industrial markets in the U.S., which provides access to Interstates 10 and 215 and State Road 60. The property is 1.2 miles from Ontario International Airport and less than 60 miles from the Ports of Long Beach and Los Angeles. Approximately 17.4 million residents are within a 60-mile radius of the business park. The park is approximately 85 percent leased and features 14- to 24-foot clear heights, a total of 16 dock-high doors, 53 grade-level doors and 24 percent office space.
The HFF investment advisory team representing the seller included managing director Andrew Briner. In addition to Briner, HFF’s West Coast industrial platform includes senior director Michael Roberts and senior managing director Scott Pertel.
“This is an exceptional opportunity for Rexford Industrial to further their investments in one of the best industrial markets in the U.S.,” Briner said.