Colliers International Negotiates 410,208-SF Industrial Sale in Fontana, CA

 FONTANA, CA – Colliers International, the second largest real estate services organization globally, has negotiated the sale of a 410,208-square-foot industrial building located at 10721 Jasmine St. (top left photo) in Fontana, Calif., to BlackRidge Real Estate Group, LLC, a Lakewood, Colo.-based privately held full-service real estate investment firm, for an undisclosed amount.

Built in 1991, 10721 Jasmine Street is a freestanding, concrete tilt-up industrial building with 50 dock-high doors and 3,000 amps of electrical service.

 The property has a fully-secured yard with a mechanical gate and security booth. The new owner will renovate the building and upgrade the sprinkler system to early suppression fast response (ESFR).

“This is the first vacant Class B building we’ve seen in Fontana sell to an institutional investor," said Tom Taylor (middle right photo) , executive vice president in Colliers’ Ontario office, who represented the both the buyer and the undisclosed seller in the transaction.

"Due to a shortage of Class A assets available for purchase, combined with the recent rebound in values, institutions are now aggressively pursuing Class B assets on a value added basis,” 

Along with Taylor, Steve Bellitti (middle left photo), executive vice president, and Summer Coulter (bottom right photo), associate, both in Colliers’ Ontario office, represented the buyer and seller in the transaction.

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