Avison Young arranged 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 St. in Ontario for Chicago based First Industrial Realty Trust (FIRT). Principal Cody Lerner from Avison Young’s Inland Empire office represented both the seller, Dobecha Investments and FIRT in this transaction which was completed despite current market conditions and a moving debt target market.
The property is located within the prime Ontario International Airport area submarket with convenient access to major highways including 60, 10 and 15 freeways providing ideal access for FIRT’s needs as well as future tenants’. Lerner commented “Our team is pleased to successfully complete this transaction despite challenges due to current market conditions and debt markets being a moving target.”
