Thursday, March 17, 2011
Colliers International Completes the Investment Sale of the 66,800-square-foot Multi-Tenant Building for $4.15 Million in Fontana, CA
FONTANA, CA. – Colliers International, the second largest global real estate services organization, recently completed the investment sale of the 66,800-square-foot multi-tenant project located at 7888 & 7898 Cherry Ave. Fontana, Calif. to a Orange County-based investor, Heritage Business Center Investment Group, LLC.
The transaction is valued at $4.15 million.
Rick Nunez (top right photo), senior associate based in Colliers International’s Inland Empire office and Whit Gifillan, associate also based in Colliers’ Inland Empire office, represented the seller, a Nevada-based developer, Shankle-Law, LLC. The buyer was represented by Windsor Investments.
“Besides its strategic location, one of the greatest advantages of this property is its commercial zoning which allows for a wide range of uses, including commercial activities such as wholesale / retail, distribution and even medical and administrative office uses, “ said Nunez.
Built in 2009 and comprised of 18 condo units, the business park was 50% leased at the time of the sale.
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